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Forcum Company reports the following information (in millions) during a recent year: net sales, $12,408.5;...

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Accounting

Forcum Company reports the following information (in millions) during a recent year: net sales, $12,408.5; net earnings, $344.9: total assets, ending,$4.312.6; and total assets, beginning,$4.254.3.
(a)Calculate the (1) return on assets (2) asset turnover and (3) profit margin ratios
(b) Prove mathematically how the profit margin and asset turnover ratios work together to explainreturn on assets, by showing the appropriate calculations

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