Suppose during 2022, Federal Express reported the following information (in millions): net sales of $37,953 and net income of $1,125. Its balance sheet also showed total assets at the beginning of the year of $24,000 and total assets at the end of the year of $25,633. Instructions Calculate the (a) asset turnover and (b) return on assets.

Suppose during 2022, Federal Express reported the following information (in millions): net sales of $37,953 and net income of $1,125. Its balance sheet also showed total assets at the beginning of the year of $24,000 and total assets at the end of the year of $25,633. Instructions Calculate the (a) asset turnover and (b) return on assets