(Profitability analysis) The R M Smithers Corporation earned an operating profit margin of 108 percent based on sales of $106 million and total assets of $47 million last year a. What was Smithers total osset turnover ratio? b. During the coming year the company's president has set a goal of attaining a total asset turnover of 31 How much must firm sales increase other things being the same, for the goal to be achieved? (State your answer in both dollars and the corresponding percent increase in sales) c. What was Smithers' operating return on assets. last year? Assuming the firm's operating profit margin remains the same, what will the operating return on assets be next year if the total asset turnover goal is achieved? a. What was Smithers total asset turnover ratio? The company's total asset turnover ratio is 22 (Round to one decimal place) b. During the coming year, the company's president has sot a goal of attaining a total asset turnover of 3 1 How much must firm sales increase, other things being the satne, for the goal to be achieved? (State your answer in both dollars and the corresponding percent increase in sales) The firm sales increase must be million (Round to two decimal places ) or (Round to one decimal place) c. What was Smithers operating retum on assets last year? The operating totun on assets was 1% (Round to ono decimal place) Assuming the firm's operating profit margin romains the same, what if the operating roturn on assets be next year of the total asset turnover goal is achieved? The new operating return on assets wil bou (Round to one decimal place)