Suppose during 2022 that Federal Express reported the following information (in millions): net sales of $34,450 and net income of $89. Its balance sheet also showed total assets at the beginning of...

Suppose during 2022 thatFederal Express reported the following information (in millions): net sales of $34,450 and net income of $89. Its balance sheet also showed total assets at the beginning of the year of $24,590 and total assets at the end of the year of $23,300.


Calculate the asset turnover and return on assets.
(Round asset turnover to 2 decimal places, e.g. 6.25 and return on assets to 1 decimal place, e.g. 17.5%.)