The following information was reported by Amuse Yourself Parks (AYP) for 2008:
- Net fixed assets (beginning of year) $ 8,550,000
- Net fixed assets (end of year) 8,360,000
- Net sales for the year 4,935,000
- Net income for the year 1,835,000
(a) Compute the company's fixed asset turnover ratio for the year. (Round your answer to 2 decimal places.)
Fixed asset turnover ratio :
(b) What can you say about AYP's fixed asset turnover ratio when compared to Cedar Fair's 2008 ratio in Exhibit 9.5? (Round your answer to 2 decimal places.)