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Calculate the asset turnover ratio and return on assets

During 2009, Federal Express reported the following information (in millions): net sales of $35,497 and net income of $98. Its balance sheet also showed total assets at the beginning of the year of $25,633 and total assets at the end of the year of $24,244.

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Calculate the asset turnover ratio and return on assets ratio.

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Accounting Basics: Calculate the asset turnover ratio and return on assets

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Accounting Basics: Calculate the asset turnover ratio and return on assets

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