The Following Information Is Available for C Co Compute the Fixed Asset Turnover Ratio for the Year for Co

Essay

The following information is available for C Co. and P Co: $$\begin{array} { | l | r | r | } \hline & \underline { \mathrm { C } \mathrm { CO } } & \text { P Co. } \\\hline \text { Net fixed assets (beginning of year) } & \$ 3,743 & \$ 6,261 \\\hline \text { Net fixed assets (end of year) } & 3,669 & 7,318 \\\hline \text { Net sales for the year } & 18,813 & 22,348 \\\hline \text { Net income for the year } & 3,533 & 1,993 \\\hline\end{array}$$ Compute the fixed asset turnover ratio for the year for both C Co. and P Co.