Babino Company had net sales revenue of $50,600,000 for the year ended May 31, 2018. Its beginning and ending total assets were $55,200,000 and $94,200,000, respectively. Determine Babino's asset turnover ratio for year ended May 31, 2018. (Round the asset turnover ratio to two decimal places, X.XX.) Asset turnover ratio Choose from any list or enter any number in the innut fields and then continue to the next question BB Petroleum holds huge reserves of oil assets. Assume that at the end of 2018, BB Petroleum's cost of oil reserves totaled $28,000,000, representing 4,000,000 barrels of oil. Read the requirements. Requirement 1. Which method does BB Petroleum use to compute depletion? is the method used to compute depletion. Requirement 2. Suppose BB Petroleum removed and sold 300,000 barrels of oil during 2019. Journalize depletion expense for 2019. (Assume no residual value. Record debits first, then credits. Select the explanation on the last line of the journal entry table. Date Accounts and Explanation Debit Credit