Staples, Inc. is one of the largest suppliers of office products in the United States. It had net income of $995.7 million and sales of $19,372.7 million in 2007. Its total assets were $8,397.3 million at the beginning of the year and $9,036.3 million at the end of the year. What is Staples, Inc.s (a) asset turnover ratio and (b) profit margin ratio? (Round to two decimals.) Provide a brief interpretation of your results. BE13-14 McCormick Company has stockholders equity of $400,000 and net income of $72,000. It has a payout ratio of 25% and a return on assets ratio of 16%. How much did McCormick pay in cash dividends, and what were its average total assets?
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