The following summary data are from the May 31, 2011, balance sheet of FedEx. All numbers are in millions.
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . $ 8,285
Property, plant, and equipment (net) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,543
Other long-term assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . €‰€‰€‰€‰ 3,557
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . $27,385
Current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,882
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,667
Other long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . €‰€‰5,616
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . $12,165
Stockholders' equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $15,220
Total sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $39,304
A summary of future minimum lease payments under capital leases and non-cancellable operating leases with an initial or remaining term in excess of one year at May 31, 2011, is as follows (in millions):

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 Related Total Capital Leases Equipment and Other Facilities Operating Leases 25 119 2012 2013 2014 2015 2016 Thereafter Total Less amount representing interest Present value of net minimum lease 494 499 473 455 458 1,545 $3,924 1,300 1,155 992 899 734 4,988 $10,068 $ 1,794 1,654 1,465 1,354 1,192 6,533 $13,992 13 $163 $146 payments