Extracts from Zee's quarterly income state- ments and balance sheets for the four quar- ters of year 1 are as follows: Q1 Q2 $ $ Millions Millions Q3 Q4 $ $ Millions Millions Sales 1,000 1,020 1,030 1,040 PPE 1,000 1,000 1,500 1,500 Total assets 5,000 5,100 5,600 5,700 Required a. Calculate the sales/PPE ratio for quarters 1-4. b. Calculate the sales/total assets ratio for quarters 1-4. c. Comment on the above ratios.
