Suppose during 2025 that Federal Express reported the following information (in millions): net sales of $82.500 and net income of $185, Its balance sheet also showed total assets at the beginning of the year of $27,000 and total assets at the end of the year of $23,000 Calculate the asset turnover and return on assets. (Round answers to 2 decimal places, eg. 6.25 or 6.25% ) Asset turnover times Returnonassets 8 C.S. Wildhorse Company had the following transactions involving notes payable. Prepare journal entries for each of the transactions, (List all debit entries before credit entries. Credit account titles are automotically Indented when amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter ofor the amounts, Record journal entries in the order presented in the problem.) On October 1, 2024, Flounder Corp. issued $780,000,9%,10-year bonds at face value. The bonds were dated October 1, 2024, and pay interest annually on October 1. Financial statements are prepared annually on December 31. (d) Prepare the joumal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit account titles are automotically indented when amount is entered. Do not indent manually If no entry is required, select "No Entry" for the account tities and enter O for the amounts) Prepare the adjusting entry to record the accrual of interest on December 31, 2024. (List all debit entries before credit entries, Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the sccount tites and enter O for the amounts) Show the balance sheet presentation of bonds payable and bond interest payable on December 31, 2024. Prepare the journal entry to record the payment of interest on October 1; 2025. (List all debit entries before credit entries, Credit occount tities are automatically indented when amount is entered, Do not indent manually. If no entry is required, select " No Entry" for the occount titles and enter O for the amounts) Prepare the adjusting entry to record the accrual of interest on December 31,2025 . (List all debit entries before credit entries, Credit occount titles are dutomoticolly indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts) Assume that on January 1,2026. Flounder pays the accrued bond interest and calls the bonds. The call price is 102. Record the payment of interest and redemption of the bonds. (Lst all debit entries before credlt entries. Credit account titles are automatically Indented when amount is entered Do not indent manualik. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts)