To compute American Eagle's total asset turnover for the year ended February 3, 2018, we need to use the formula:
Total Asset Turnover = Net Sales / Total Assets
From the American Eagle (AE) Annual Report in Appendix B of the textbook:
For fiscal year 2017:
- Net Sales: $3,796,240
- Total Assets: $3,878,797
Using these numbers, we can calculate the total asset turnover:
Total Asset Turnover = $3,796,240 / $3,878,797 = 0.98
Therefore, American Eagle's total asset turnover for the year ended February 3, 2018, is 0.98 (rounded to two decimal places).
Answer this question using the American Eagle (AE) Annual Report found in Appendix B of your textbook. For numerical answers do not include commas. To report your answer as a loss or a decrease use a minus sign (-) in front of your numerical answer. If your answer is a dollar amount, be sure to put the dollar sign ($) in front of your numerical answer. Make sure your answers include the correct number of zeros! Please note that AE refers to the year ending February 3, 2018 as fiscal 2017. AE refers to the year ending January 28, 2017 as fiscal 2016. Compute American Eagle's total asset turnover for the year ended February 3, 2018 (round to two decimal places)
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