Below is the financial info for Kirkmonds Inc. Use this information to answer question 10-12 Balance Sheet (Millions of 5) Income Statement (Millions of $) 2014 -2013 2014 Assets Net sales $108,360 Cash and securities $22,500 $23,000 Operating costs except depreciation 84,750 Accounts receivable 13,500 12,400 Depreciation 3,500 Inventories 38,000 40,500 Earnings before interest and taxes $20,110 (EBIT) Total current assets $74,000 $75,900 Interest 1,500 Net plant and $45,000 $41,500 Eamings before taxes (EBT) $18,610 equipment Total assets $119,000 $117,400 Taxes 6,513.50 Net income $12,096.50 Liabilities and Equity Accounts payable $16,000 $13,000 Other data: Interest payable 7,200 7,200 Accruals 5,000 5,000 Shares outstanding (millions) 600 Total current $28,200 $25,200 Common dividends $637.59 liabilities Long-term bonds $27,800 $39,200 After-tax cost of capital 12.00% Total debt $56,000 $64,400 Federal plus state income tax rate 35% Common stock $15,000 $15,000 Year-end stock price $68.69 Retained earnings 48,000 38,000 Capital Expenditure $ 7,000 Total common equity $63,000 $53,000 Total invested capital = Total assets Total liabilities and $119,000 $117,400 equity Industry Average Profit Margin 0.12 Total Asset Turnover 1.1082 Equity Multiplier 1.88 For the year 2014, how EFFICIENTLY has the Kirkmonds used total ASSETS to generate SALES? 0.19 13.44 0.47 0.91 1.12