Torrid Romance Publishers has total receivables of $3,060, which represents 20 days’ sales. Total assets are $74,460. The firm’s operating profit margin is 5.2%. Find the firm's ROA and asset turnover ratio.
a) ROA = 4.14%, Asset Turnover = 0.041
b) ROA = 4.14%, Asset Turnover = 0.0414
c) ROA = 5.2%, Asset Turnover = 0.041
d) ROA = 5.2%, Asset Turnover = 0.0414
