Sales for the year were $156,000.

The balance sheet at the end of the year is given below:

Assets			Liabilities and Equity
Cash	14,000		Accounts payable	16,000
Marketable securities	2,000		Notes payable	6,000
Accounts receivable	4,000		Current liabilities	22,000
Inventory	24,000		Long-term debt	95,000
Current assets	44,000		Total liabilities	117,000
Machines	34,000		Paid-in capital	20,000
Real estate	80,000		Retained earnings	21,000
Net fixed assets	114,000		Equity	41,000
Total assets	158,000		Total liab. & equity	158,000

Part 1: What is the fixed asset turnover ratio?

Part 2: What is the total asset turnover ratio?