Exercise 11-24 Incorrect answer. Your answer is incorrect. Try again. The 2011 Annual Report of Tootsie Roll Industries contains the following information. (in millions) December 31, 2011 December 31, 2010 Total assets $857.9 $858.0 Total liabilities 191.9 190.6 Net sales 528.4 517.1 Net income 43.9 53.0 Compute the following ratios for Tootsie Roll for 2011. (a) Asset turnover ratio (Round answer to 4 decimal places, e.g. 0.8512 times.) Entry field with incorrect answer now contains modified data times (b) Return on assets (Round answer to 2 decimal places, e.g. 4.87%.) Entry field with incorrect answer 6.17 % (c) Profit margin on sales (Round answer to 2 decimal places, e.g. 4.87%.) Entry field with incorrect answer 10.3 %

note: left wrong answers in question in case you came to same conclusion.