View Policies Current Attempt in Progress The following information is provided for Nguyen Company and Northwest Corporation. (in $ millions) Nguyen Company Northwest Corporation Net income 2022 $165 $420 Net sales 2022 1,650 4,900 Total assets 12/31/20 1,000 2,400 Total assets 12/31/21 1,050 3,000 Total assets 12/31/22 1,150 4,000 If Nguyen and Northwest are in the same industry and the industry average for asset turnover is equal to 1.20 times, which of the following statements is true? Both Nguyen and Northwest are operating more efficiently than the average company in their industry. Northwest is operating more efficiently than Nguyen Nguyen is operating less efficiently than the industry average. The asset turnover does not address the question of efficient operations. Save for Later Attempts: 0 of 1 used Submit