Suppose during 2017 thatFederal Expressreported the following information (in millions): net sales of $34,000 and net income of $80. Its balance sheet also showed total assets at the beginning of the year of $24,500 and total assets at the end of the year of $23,300.
Calculate the asset turnover and return on assets.(Round answers to 2 decimal places, e.g. 6.25 or 17.54%.)