Comparative figures for Apple and Google follow.

Required
1. Compute total asset turnover for the most recent two years for Apple and Google using the data shown.
2. Which company is more efficient in generating net sales given the total assets it employs? Assume an industry average of 1.0 for asset turnover.

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Apple Google Current One Year Two Years CurrentOne Year Two Years $ milllons Year Prior Prlor Year Prior Prior Total assets Net sales 290,479 $231,839 $207,000 147,461 $129,187 $110,920 55,519 233,715 82,795 70,910 74,989 66,001