Question In the late 1990s, many grocery supermarkets shifted from regular storewide sales to issuing membership in discount and points programs, much like frequent flyer programs run by the airlines. A supermarket chain with $120 million in annual sales and an asset turnover of 6.0 ponders whether to institute a customer membership program. It currently earns a profit margin of 1.6% on sales. Its marketing research indicates that a customer membership program would increase sales by $25 million and would require an additional investment in inventories of $2 million but no additional retail floor space. Costs to run the membership program, including the discounts offered to members, would reduce profit margins to 1.5%. What would be the effect on the firm's return on net operating assets of adopting the customer membership program