The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $) Assets 2010 Cash and securities $2,040 Accounts receivable 11,730 Inventories 16,320 Total current assets $30,090 Net plant and equipment $20,910 Total assets $51,000 Liabilities and Equity Accounts payable $9,690 Notes payable 7,140 Accruals 5,610 Total current liabilities $22,440 Long-term bonds $15,045 Total debt $37,485 Common stock $2,295 Retained earnings 11,220 Total common equity $13,515 Total liabilities and equity $51,000 Income Statement (Millions of $) 2010 Net sales $66,300 Operating costs except depreciation 61,991 Depreciation 1,160 Earnings bef interest and taxes (EBIT) $3,149 Less interest 1,387 Earnings before taxes (EBT) $1,763 Taxes 617 Net income $1,146 Other data: Shares outstanding (millions) 500.00 Common dividends (millions of $) $401.01 Int rate on notes payable & L-T bonds 6.25% Federal plus state income tax rate 35% Year-end stock price $27.50 What is the firm's total assets turnover? a. 1.08 b. 1.33 c. 1.53 d. 1.30 e. 1.21