### Calculate asset turnover ratio and return on assets ratio

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##### Reference no: EM13533019

During 2009, 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 asset turnover ratio and return on assets ratio.

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