Kroger, a national supermarket chain, reported the following data (in millions) in its financial statements for a

Question:

Kroger, a national supermarket chain, reported the following data (in millions) in its financial statements for a recent year:

Total revenue ................................ $90,374

Total assets at end of year .................. 23,476

Total assets at beginning of year ........... 23,505

a. Compute the ratio of sales to assets. Round to two decimal places.

b. Tiffany & Co. is a large North American retailer of jewelry, with a ratio of sales to assets of 0.92. Why would Tiffany's ratio of sales to assets be lower than that of Kroger?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...