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A company reports the following: Sales $724,100 Average total assets 557,000 Determine the asset turnover ratio. If required, round your answer to one decimal place.

A company reports the following:

Sales $724,100
Average total assets 557,000

Determine the asset turnover ratio. If required, round your answer to one decimal place.

A company reports the following income statement and balance sheet information for the current year:

Net income $268,350
Interest expense 47,350
Average total assets 2,870,000

Determine the return on total assets. If required, round the percentage to one decimal place.

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