Suppose during 2022 that Federal Express reported the following information (in millions): net sales of...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $ 33,200 and net income of $ 140. Its balance sheet also showed total assets at the beginning of the year of $ 26,800 and total assets at the end of the year of $ 13,200. Calculate the asset turnover and return on assets. (Round answers to 2 decimal places, e.g. 6.25 or 17.54%.)
Asset turnover
Enter the asset turnover in times
times
Return on assets
Enter the return on assets in percentages
%
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
