The Following Data Is from Gauthier Machine Shop Compute Gauthier Machine Shop's Asset Turnover Ratio for the Two

Short Answer

The following data is from Gauthier Machine Shop: $$\begin{array} { | l | r | r | r | } \hline & \underline { \mathbf { 2 0 X 3 } } & \underline { \mathbf { 2 0 X } } & \mathbf { 2 0 X 1 } \\\hline \text { Total Assets } & \$ 500,000 & \$ 475,000 & \$ 450,000 \\\hline \text { Total Liabilities } & \$ 200,000 & \$ 190,000 & \$ 170,000 \\\hline \text { Total Shareholders' Equity } & \$ 300,000 & \$ 285,000 & \$ 280,000 \\\hline \text { Sales } & \$ 1,000,000 & \$ 900,000 & \$ 820,000 \\\hline \text { Profit } & \$ 140,000 & \$ 120,000 & \$ 110,000 \\\hline\end{array}$$ Compute Gauthier Machine Shop's asset turnover ratio for the two most recent years
(a) 20X3 __________
(b) 20X2 __________