The March 29, 2012, edition of the Wall Street Journal Online contains an article by Miguel Bustillo entitled, Best Buy Forced to Rethink Big Box. The article explains how the 1,100 giant stores that enabled Best Buy to obtain its position as the largest retailer of electronics are now reducing the companys profitability and even threatening its survival. The problem is that many customers go to Best Buy stores to see items but then buy them for less from online retailers. As a result, Best Buy recently announced that it would close 50 stores and switch to smaller stores. However, some analysts think that these changes are not big enough.

Suppose the following data were extracted from the 2022 and 2017 annual reports of Best Buy. (All amounts are in millions.)

		2022		2021		2017		2016
Total assets at year-end		$16,330		$18,390		$12,766		$10,234
Net sales		43,400				28,750
Net income		1,302				1,150

Using the data above, answer the following questions.

(b)

Compute the profit margin, asset turnover, and return on assets for 2022 and 2017. (Round all percentages to 1 decimal places, e.g. 15.1% and asset turnover ratio to 2 decimal places, e.g. 15.21.)

		2022			2017
Profit Margin		enter percentages of profit margin rounded to 1 decimal place	%		enter percentages of profit margin rounded to 1 decimal place	%
Asset Turnover		enter asset turnover in times rounded to 2 decimal places	times		enter asset turnover in times rounded to 2 decimal places	times
Return on Assets		enter percentages of return on asset rounded to 1 decimal place	%		enter percentages of return on asset rounded to 1 decimal place	%

The March 29, 2012. edition of the Wall Street Journal Online contains an article by Miguel Bustillo entitled, "Best Buy Forced to Rethink Big Box The article explains how the 1.100 giant stores that enabled Best Buy to obtain its position as the largest retailer of electronics are now reducing the company's profitability and even threatening its survival. The problem is that many customers go to Best Buy stores to see items but then buy them for less from online retailers. As a result, Best Buy recently announced that it would close 50 stores and switch to smaller stores. However, some analysts think that these changes are not big enough Suppose the following data were extracted from the 2022 and 2017 annual reports of Best Buy. (All amounts are in millions) 2022 2021 2017 2016 Total assets at year-end $16.330 $18.390 $12.766 $10.234 Net sales 43.400 28.750 Net income 1,302 1.150 Using the data above, answer the following questions (b) Compute the profit margin, asset turnover, and return on assets for 2022 and 2017. (Round all percentages to 1 decimal places, a 15.1% and asset turnover natio to 2 decimal places. 15.21) 2022 2017 Profit Margin Asset Turnover times times Keturn on Assets