15.The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $) 2021 Assets Cash and securities $ 3,500 Accounts receivable 12,500 Inventories 14,000 Total current assets $ 30,000 Net plant and equipment 20,000 Total assets $ 50,000 Liabilities and Equity Accounts payable $ 9,900 Accruals 6,600 Notes payable 8,000 Total current liabilities $ 24,500 Long-term bonds 11,000 Total liabilities $ 35,500 Common stock 3,335 Retained earnings 11,165 Total common equity $ 14,500 Total liabilities and equity $ 50,000 Income Statement (Millions of $) 2021 Net sales $ 70,000 Operating costs except depreciation 65,100 Depreciation 1,600 Earnings before interest and taxes (EBIT) $ 3,300 Less interest 1,140 Earnings before taxes (EBT) $ 2,160 Taxes (25%) 540 Net income $ 1,620 Other data: Shares outstanding (millions) 500.00 Common dividends (millions of $) $567.00 Int. rate on notes payable & L-T bonds 6% Federal plus state income tax rate 25% Year-end stock price $38.88 What is the firm's total assets turnover? Do not round your intermediate calculations.

a. 1.94 b. 2.86 c. 2.33 d. 1.40 e. 2.06