E11-24B (Ratio Analysis) The 2012 Annual Report of Brinker International contains the following information. (in millions) June 29, 2011 June 27, 2012 Total assets $1,484 $1,436 Total liabilities 1,045 1,126 Net sales 2,761 2,820 Net income 141 151 Instru

E11-24B (Ratio Analysis) The 2012 Annual Report of Brinker International contains the following

information.

(in millions) June 29, 2011 June 27, 2012

Total assets $1,484 $1,436

Total liabilities 1,045 1,126

Net sales 2,761 2,820

Net income 141 151

Instructions

Compute the following ratios for Brinker International for 2012.

(a) Asset turnover ratio.

(b) Rate of return on assets.

(c) Profit margin on sales.

(d) How can the asset turnover ratio be used to compute the rate of return on assets