Profitability ratios (LO3-2) a. 11. Baker Oats had an asset turnover of 1.6 times per year. If the return on total assets (investment) was 11.2 percent, what was Baker's profit margin? b. The following year, on the same level of assets, Baker's assets turnover declined to 1.4 times and its profit margin was 8 percent. How did the return on total assets change from that of the previous year