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QUESTION
The following information was extracted from the accounting records of Flora Division: Prior Year Current Year Profit Margin Ratio 6.0% Asset...
The following information was extracted from the accounting records of Flora Division:
Prior YearCurrent Year
Profit Margin Ratio6.0%5.0%
Asset Turnover Ratio2.5 times3.2 times
Did Flora improve its performance in current year compared to prior year? How?
