finance

QU:2                                                                                            

As of December 31, 20XX, Michael Corp's fixed assets before depreciation were $14,000,000. Its sales for the year were $32,000,000. Its EBIT for 20XX was $1,500,000, and its accumulated depreciation on fixed assets was $4,000,000. What was its fixed assets turnover ratio

QU3:

Between December 31, 2016 and December 31, 2017, ROE at Bobcat Industries decreased even though sales increased. Using the DuPont Identity, explain what else could have happened to cause this. (Points : 10)