Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $35,000 and net income of $80. Its balance sheet also showed total assets at the beginning of the year of $24,700 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%.)

Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $35,000 and net income of $80. Its balance sheet also showed total assets at the beginning of the year of $24,700 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 times Return on assets %