X.X%.) ( Net income Preferred dividends Net sales = Return on sales 2016 ( $ 21 $ 0 494 4.3 II % ) 7 )/ $ )/ $ )/ $ 2017 $ 32 0 503 6.4 % ( ( 2018 $ 32 0 515 6.2 Il % Explain what this means. Return on sales measures the amount of net income for each dollar of net sales. Requirement 3. Calculate asset turnover for 2016 through 2018. Explain what this means. Begin by selecting the asset turnover formula and then enter the amounts to calculate the ratios. (Enter amounts in thousands as provided to you in the problem statement. Round intermediary calculation to the nearest thousand. Round the asset turnover ratios to three decimal places, X.XXX.) Net sales / Average total assets = Asset turnover 2016 494 / 239 2.067 2017 503 1 $ 253 1.988 2018 $ 515 | $ 281 11 1.833 Requirement 4. Use a DuPont Analysis to calculate the rate of return on average total assets (ROA) for 2016 through 2018. Begin by selecting the ROA formula using the DuPont analysis and then enter the amounts to calculate the ratio. (Enter percentages rounded to one-tenth percent, X.X%. Enter other component ratios as decimals to three places, .XXX.) Rate of return on sales Earnings per share ROA 2016 4.3 % 2.067 = 8.888 % 2017 6.4 % 1.988 12.723 2018 6.2 % 1.833 11.365 % Data table 2018 2017 2016 2015 2014 (In thousands) Net sales. Net income 515 $ 503 $ 494 $ 316 $ 298 32 32 21 31 24 Total assets 306 256 250 228 207 Print Done