The 2017 annual report of Trocchi Inc. contains the following information (in thousands):

Instructions
(a) Calculate the following ratios for Trocchi Inc. for 2017:
1. Asset turnover ratio
2. Rate of return on assets
3. Profit margin on sales
(b) How can the asset turnover ratio be used to calculate the rate of return on assets?
(c) Briefly comment on the results for the ratios calculated in part (a).

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Dec. 31, 2017 Dec. 31, 2016 Total assets Total liabilities Consolidated sales Net income $1,071,348 626,178 3,374,463 787,167 410,044 2,443,592 49,062 66,234