A recent annual report of Eastman Company contains the following information.

Instructions Compute the following ratios for Eastman Company for the current year.

(a) Asset turnover.

(b) Return on assets.

(c) Profit margin on sales.

(d) How can the asset turnover be used to compute the return on assets?

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(in millions) Total assets Total liabilities Net sales Net income Current Year-End 13,659 Prior Year-End 14,320 10,630 12,932 10,301 10,568 676 (601)