The following information is provided for Nguyen Company and Northwest Corporation.

(in $ millions)	Nguyen Company			Northwest Corporation
Net income 2022	$165			$420
Net sales 2022	1,650			4,900
Total assets 12/31/20	1,000			2,400
Total assets 12/31/21	1,050			3,000
Total assets 12/31/22	1,150			4,000

If Nguyen and Northwest are in the same industry and the industry average for asset turnover is equal to 1.20 times, which of the following statements is true?

Both Nguyen and Northwest are operating more efficiently than the average company in their industry.

The asset turnover does not address the question of efficient operations.

Nguyen is operating less efficiently than the industry average.

Northwest is operating more efficiently than Nguyen.