(Solution) - Suppose during 2017 that Federal Express reported the following information -(2025 Original AI-Free Solution)

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Suppose during 2017 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.
Instructions
Calculate the (a) asset turnover and (b) return on assets.