Ratios: asset turnover and return on total assets You will use the NIKE financial statements in appendix C for these ratios The formula for asset tumover sales (revenues) / average total assets Average total assets is the sum of the beginning and ending total assets added together and then divided by 2. The beginning total assets for 5/31/18 is the ending total assets for 5/31/17. The beginning total assets for 5/31/17 is 21,379. Round the average total assets to the nearest tenth before dividing into sales. Then round the ratio to the nearest tenth. 5/31/18 ratio 5/31/17 ratio This ratio measures how effectively a company uses its assets. The higher the number, the more efficiently the company is using its assets to generate sales. Comment on NIKES profitability from their assets between the two years.