Determining the asset turnover ratio


Office, Inc. is one of the largest suppliers of office products in the United States. It had net income of $1,012.6 million and sales of $19,828.6 million in 2007. Its total assets were $9,225.6 million at the beginning of the year and $9,980.4 million at the end of the year. What is Office, Inc.'s (a) asset turnover ratio and (b) profit margin ratio? (Round all answers to 2 decimal places, e.g. 23.40.)

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Accounting Basics: Determining the asset turnover ratio
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