E9.14 (LO 6) Ajax Limited reported the following information (in millions) at December 31, 2021: sales $14,000; net income $550; total assets at December 31, 2021, $7,200; and total assets at December 31, 2020, $6,800. Instructions a. Calculate the following ratios for the year: (1) return on assets, (2) asset turnover, and (3) profit margin. b. By showing the appropriate calculation (using unrounded numbers), prove mathematically how the profit margin and asset turnover work together to explain the return on assets. c. On average, the ratio values for Ajax's competitors are return on assets 4.5%, asset turnover 1.5 times, and profit margin 3.0%. Compare these with those of Ajax and determine if Ajax is performing better than the industry