>> Accounting Basics
1. Staples, Inc. is one of the largest suppliers of office products in the United States. It had net income of $738.7 million and sales of $24,275.5 million in 2009. Its total assets were $13,073.1 million at the beginning of the year and $13,717.3 million at the end of the year. What is Staples, Inc.'s
(a) Asset turnover ratio and
(b) Profit margin ratio? (Round to two decimals.) Provide a brief interpretation of your results.