Southwest Airlines, Inc., has total operating revenues of $6.53 million on total assets of $11.337 million. Their

Question:

Southwest Airlines, Inc., has total operating revenues of $6.53 million on total assets of $11.337 million. Their property, plant, and equipment, including their ground equipment and other assets, are listed at a historical cost of $11.921 million, while the accumulated depreciation and amortization amount to $3.198 million. What are the airline’s total asset turnover and fixed asset turnover ratios?

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.