Question: Please show work using formulas. Return on Assets Ratio and Asset Turnover Ratio Allied Systems reported the following financial data (in millions) in its annual

Please show work using formulas.

Please show work using formulas. Return on Assets Ratio and Asset Turnover

Return on Assets Ratio and Asset Turnover Ratio Allied Systems reported the following financial data (in millions) in its annual report: 2015 2016 Net Income $19,300 $16,134 Net Sales 49,540 47.152 Total Assets 68,734 78,128 If the company's total assets are $65,676 in 2014, calculate the company's (a) return on assets (round answers to one decimal place-ex: 10.7%) (b) asset turnover for 2015 and 2016 (round answers to two decimal places) 2015 a. Return on Assets Ratio b. Asset Turnover Ratio

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