Comparative figures for Apple and Google follow.

Required

1. Compute total asset turnover for the most recent two years for Apple and Google using the data shown.

2. In the current year, which company is more efficient in generating net sales given total assets?

3. Does each company?s asset turnover underperform or outperform the industry (assumed) asset turnover of 0.5 for (a) Apple and (b) Google?

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Apple Google One Year Prior Two Years Prior Two Years Current Current Year One Year Prior Prior $millons Year $290,345 $231,839 $167,497 $147,461 Total assots. $321,686 $129,187 $182,795 $ 74,989 $ 66,001 Net sales $ 90,272 $215,639 $233,715