Tiffany & Co. (TIF) designs and sells jewelry including rings, watches, and necklaces throughout the world. The following data (in millions) were taken from recent financial statements of Tiffany: Net income $ 370 Total assets at the beginning of the year 5,098 Total assets at the end of the year 5,468 1. Compute the return on assets for Tiffany using the preceding data. Round to one decimal place. % 2. Assume WalMart's return on assets is 5.2%. Complete the statements below regarding the comparison of the return on assets for WalMart to that of Tiffany. Tiffany's return on assets is Tiffany's Walmart's return on assets. This reflects that allows it to sells its products at prices and markups. In contrast, WalMart operates in a highly competitive market with a Return on assets Tiffany & Co. (TIF) designs and sells jewelry including rings, watches, and necklaces throughout the world. The following data (in millions) were taken from recent financial statements of Tiffany: Net income $370 Total assets at the beginning of the year 5,098 Total assets at the end of the year 5,468 1. Compute the return on assets for Tiffany using the preceding data. Round to one decimal place. % 2. Assume WalMart's return on assets is 5.2%. Complete the statements below regarding the comparison of the return on assets for WalMart to that of Tiffany. Tiffany's return on assets is higher than Walmart's return on assets. This reflects Tiffany's premium-price strategy that allows it to sells its products at higher prices and markups. In contrast, WalMart operates in a highly competitive market with a low-cost strategy. Feedback Check My Work 1. Recall that the return on asset is equal to net income divided by average total assets. 2. Return on assets is a profitability metric often used to compare a company's performance over time and with competitors