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Suppose during 2014 that Federal Express reported the following information (in millions): net sales of...

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Accounting

Suppose during 2014 that 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. Calculate the asset turnover and return on assets. (Round answers to 2 decimal places, e.g. 6.25 or 17.54%.)

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