Suppose during 2022 thatFederal Expressreported the following information (in millions): net sales of $34,900and net income of $98. Its balance sheet also showed total assets at the beginning of the year of $24,680and total assets at the end of the year of $23,300.

Calculate the asset turnover and return on assets.(Round asset turnover to 2 decimal places, e.g. 6.25 and return on assets to 1 decimal place, e.g. 17.5%.)

Your answer is partially correct. Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $34,900 and net income of $98. Its balance sheet also showed total assets at the beginning of the year of $24,680 and total assets at the end of the year of $23,300. Calculate the asset turnover and return on assets. (Round asset turnover to 2 decimal places, e.g. 6.25 and return on assets to 1 decimal place, e.g. 17.5%.) Asset turnover 1.45 times Return on assets 0.0040 % eTextbook and Media