Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $36,800 and net income of $320. Its balance sheet also showed total assets at the beginning of the year of $25,200 and total assets at the end of the year of $14,800. Calculate the asset turnover and return on assets. (Round answers to 2 decimal places, e.g. 6.25 or 17.54%.)

Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $36,800 and net income of $320. Its balance sheet also showed total assets at the beginning of the year of $25,200 and total assets at the end of the year of $14,800. Calculate the asset turnover and return on assets. (Round answers to 2 decimal places, e.g. 6.25 or 17.54%.) Asset turnover times Return on assets %