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Magic Flutes has total receivables of $3,400, which represent 20 days' sales. Total assets are $77,000. The firm's operating profit margin is 5.20%. Assume a
Magic Flutes has total receivables of $3,400, which represent 20 days' sales. Total assets are $77,000. The firm's operating profit margin is 5.20%. Assume a 365day year. a. What is the firm's sales-toassets ratio? Note: Round your answer to 2 decimal places. b. What is the firm's return on assets? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places
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