Suppose during 2025 that Federal Express reported the following information (in millions): net sales of $62,500 and net income $145. Its balance sheet also showed total assets at the beginning of the year of $29,000 and total assets at the end of the year of $21,000.

Suppose during 2025 that Federal Express reported the following information (in millions): net sales of $62,500 and net income $145. Its balance sheet also showed total assets at the beginning of the year of $29,000 and total assets at the end of the year of $21,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Suppose during 2025 that Federal Express reported the following information (in millions): net sales of $62,500 and net income of
$145. Its balance sheet also showed total assets at the beginning of the year of $29,000 and total assets at the end of the year of
$21,000.
Calculate the asset turnover and return on assets. (Round answers to 2 decimal places, eg. 6.25 or 6.25%.)
Asset turnover
Return on assets
times
%

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