Turleson Company reports the following information (in millions) during a recent year: net sales, $14,400; net earnings, $300.2; total assets, ending, $4,450.6; and total assets, beginning, $4,254.3. Instructions (a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (b) Prove mathematically how the profit margin and asset turnover work together to ex-plain return on assets, by showing the appropriate calculation.

Turleson Company reports the following information (in millions) during a recent year: net sales, $14,400; net earnings, $300.2; total assets, ending, $4,450.6; and total assets, beginning, $4,254.3. Instructions (a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (b) Prove mathematically how the profit margin and asset turnover work together to ex-plain return on assets, by showing the appropriate calculation