Complete the following requirements. Requirements 1. The Knit Shop Company reported a 5% operating margin on sales, a 15% pretax operating return on total assets, and $500 million of average total assets. Compute the (a) operating income, (b) total sales, and (c) total asset turnover. 2. Hitucci Corporation reported 250 million of sales, 15 million of operating income, and a total asset turnover of five times. ( is Japanese yen.) Compute the (a) total assets, (b) operating return on sales, and (c) pretax operating return on total assets. Requirement 1. The Knit Shop Company reported a 5% operating margin on sales, a 15% pretax operating return on total assets, and $500 million of average total assets. Compute the (a) operating income, (b) total sales, and (c) total asset turnover. (a) Select the formula you will need to compute the operating income amount and then solve for operating income. Operating income million Average total assets x Operating margin on sales Average total assets / Operating margin on sales Average total assets x Pretax operating return on assets Average total assets / Pretax operating return on assets