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Magic Flutes has total receivables of $4,100, which represent 20 days' sales. Total assets are $80.500. The firm's operating profit margin is 5.55%. Assume a

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Magic Flutes has total receivables of $4,100, which represent 20 days' sales. Total assets are $80.500. The firm's operating profit margin is 5.55%. Assume a 365-day year. a. What is the firm's sales-to-assets ratio? (Round your answer to 2 decimal places.) Sales-to-asset ratio b. What is the firm's return on assets? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) 56 Return on assets

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