Calculating the net sales, Financial Accounting

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Calculating the net sales

Fixed-asset turnover ratio; solve for unknown

Response to the following problem:

The balance sheets of Pinewood Resorts reported net fixed assets of $740,000 and $940,000 at the end of 2015 and 2016, respectively. The fixed-asset turnover ratio for 2016 was 3.25. Calculate Pinewood's net sales for 2016.

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Financial Accounting: Calculating the net sales

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Financial Accounting: Calculating the net sales

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