United Continental Holdings, Inc., which was formerly known as United Airlines, operates passenger service throughout the world. The following data (in millions) were adapted from a recent financial statement of United.
Net sales ...................... $37,110
Beginning of year property, plant, and equipment ... 16,945
End of year property, plant, and equipment ....... 16,419
1. Compute the fixed asset turnover. Round to two decimal places.
2. Compare the results from part (1) with Delta’s fixed asset turnover for Year 2 of 1.73 computed on page 272.