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Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $ 33,200 and net income of $ 140. Its balance
Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $ 33,200 and net income of $ 140. Its balance sheet also showed total assets at the beginning of the year of $ 26,800 and total assets at the end of the year of $ 13,200. Calculate the asset turnover and return on assets. (Round answers to 2 decimal places, e.g. 6.25 or 17.54%.)
Asset turnover | Enter the asset turnover in times | times | |
---|---|---|---|
Return on assets | Enter the return on assets in percentages | % |
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