The 2017 Annual Report of Tootsie Roll Industries contains the following information.
(in millions) December 31, 2017 December 31, 2016
Total assets $930.9 $920.1
Total liabilities 197.1 208.6
Net sales 515.7 517.4
Net income 80.7 67.2
Compute the following ratios for Tootsie Roll for 2017.
(a) Asset turnover (Round answer to 3 decimal places, e.g. 0.851 times.)
(b) Return on assets (Round answer to 2 decimal places, e.g. 4.87%.)
(c) Profit margin on sales (Round answer to 2 decimal places, e.g. 4.87%.)