The following information was available for Landmark Restaurants for the past three years.
Required:
Using this information, compute the fixed asset turnover ratio for Year 3 and Year 2. Round your answers to two decimal places. $$\begin{array} { l r r r r }
\text { In thousands } & \text { Year 3 } & \text { Year 2 } & \text { Year 1 } \
\text { Net fixed assets } & \$ 965,575 & \$ 830,930 & \$ 587,829 \
\text { Net sales } & 1,105,755 & 894,795 & 746,642 \
\text { Net income } & 45,901 & 41,522 & 26,920
\end{array}$$

Question

The following information was available for Landmark Restaurants for the past three years.
Required:
Using this information, compute the fixed asset turnover ratio for Year 3 and Year 2. Round your answers to two decimal places. $$\begin{array} { l r r r r } 
\text { In thousands } & \text { Year 3 } & \text { Year 2 } & \text { Year 1 } \
\text { Net fixed assets } & \$ 965,575 & \$ 830,930 & \$ 587,829 \
\text { Net sales } & 1,105,755 & 894,795 & 746,642 \
\text { Net income } & 45,901 & 41,522 & 26,920
\end{array}$$

Quizplus · Accepted Answer

The Answer of The following information was available for Landmark Restaurants for the past three years.
Required:
Using this information, compute the fixed asset turnover ratio for Year 3 and Year 2. Round your answers to two decimal places. $$\begin{array} { l r r r r } 
\text { In thousands } & \text { Year 3 } & \text { Year 2 } & \text { Year 1 } \
\text { Net fixed assets } & \$ 965,575 & \$ 830,930 & \$ 587,829 \
\text { Net sales } & 1,105,755 & 894,795 & 746,642 \
\text { Net income } & 45,901 & 41,522 & 26,920
\end{array}$$

The Following Information Was Available for Landmark Restaurants for the Past