Answer:Assets turnover ratio Year 2 =2.87 times
Assets turnover ratio for Year 3 = 4.58times
Explanation:
The total assets turnover is calculated as = Net Sales / Average total assets
also,
Average total assets = (Beginning assets + Ending Assets) / 2
Average total assets for Year 2 = ($1,684,000 +$1,780,000)/ 2 =$1,732,000
Average total assets for Year 3 = ($1,780,000 + $1,949,000 )/2 =$1,864,500
Assets turnover ratio Year 2 =$4,970,000 / $1,732,000 = 2.87 times
Assets turnover ratio for Year 3 = $8,532,000 / $1,864,500 = 4.58times
