Problem:
ABC projects sales to total $20,755,000 this year. ABC started the year with $13,583,000 of net fixed assets, plans to buy $4,760,000 of new fixed assets and plans to claim $4,730,000 of depreciation expenses during the year.
Required:
Question: Given these numbers, what is ABC's projected fixed asset turnover ratio as of the end of the year?
Note: Explain all steps comprehensively.