The following summary data are from the May 31, 2009, balance sheet of FedEx. All numbers are in millions.
Total current assets . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,116
Property, plant, and equipment (net) . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . 13,417
Other long-term assets . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . 3,711
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . $24,244
Current liabilities. . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,524
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,930
Other long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,164
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,618
Stockholders' equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $13,626
Total sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $35,497
A summary of future minimum lease payments under capital leases and non-cancelable operating leases with an initial or remaining term in excess of one year at May 31, 2009 is as follows (in millions):

Instructions:
Compute the following ratio values.
1. Debt ratio (total liabilities/total assets).
2. Debt ratio assuming that FedEx's operating leases are accounted for as capital leases.
3. Asset turnover (sales/total assets).
4. Asset turnover assuming that FedEx's operating leases are accounted for as capital leases.

Operating Leases Aircraft and Total Capital Leases Related Equipment and Other 1,759 1,612 1,451 $164 $ 512 $1,247 947 119 499 2014 1,166 7,352 $14,656 Thereafter 15 2.458 4,894 $4,971 $9,685 Less amount representing interest Present value of net minimum lease payments $294