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Suppose during 2 0 2 2 that Federal Express reported the following information ( in millions ) : net sales of $ 3 4 .

Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $34.450 and net income of $89. Its balance sheet also showed total assets at the beginning of the year of $24,590 and total assets at the end of the vear of
$23.300.
Calculate the asset turnover and return on assets. (Round sset turnover to 2 decimal places, e.g.6.25 and return on assets to 1 decimal place, e.g.17.5%.)
Asset turnover
times
Return on assets
%

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