Nike is the market leader and Under Armour is an up-and-coming player in the highly competitive athletic apparel market. The companies reported the following selected financial data ($ in millions):
Required: 1. Calculate Nike’s return on assets, profit margin, and asset turnover ratio. 2. Calculate Under Armour’s return on assets, profit margin, and asset turnover ratio. 3. Which company has the higher profit margin and which company has the higher asset turnover?