Use the information provided about Sanibel Corporation to calculate the following ratios for 2016. The income tax rate is 35%.

(1)	Total Assets Turnover
(2)	Return on Common Equity (ROCE)

Sanibel Corporation
Balance Sheet (in thousands)
As of December 31
	2016	2015
Assets:
Cash and cash equivalents	$ 712,300	$ 425,000
Accounts Receivable	408,000	106,250
Inventory	510,000	612,000
Current Assets	1,630,300	1,143,250
Equipment	714,000	654,500
Less: Accumulated depreciation	(238,000)	(119,000)
Land	425,000	170,000
Total assets	$2,531,300	$1,848,750
Liabilities:
Accounts Payable	$297,500	$382,500
Accrued Salaries Payable	93,500	136,000
Rent Expense Payable	37,400	17,000
Income Tax Payable	117,300	68,000
Current Liabilities	545,700	603,500
Long-term note payable	850,000	510,000
Total Liabilities	1,395,700	1,113,500
Stockholders Equity:
Preferred stock	200,000	200,000
Common stock	514,000	310,000
Retained earnings	421,600	225,250
Total liabilities and stockholders equity	$2,531,300	$1,848,750

Sanibel Corporation
Income Statement (in thousands)
For the year ended December 31, 2016
Net Sales	$ 2,499,000
Cost of goods sold	(1,428,000)
Gross Profit		1,071,000
Depreciation expense	(112,000)
Salary expense	(233,600)
Insurance Expense	(40,000)
Rent Expense	(160,000)
Operating Profit		525,400
Interest Expense	(67,200)
Income before Tax		458,200
Income Tax Expense	(160,370)
Net income		$ 297,830

Additional Information: Preferred Dividends = $10,000 (in thousands)