Answer
given,
Net sale = $34,700
Net income = $94
Total assets at the beginning = $24,640
Total asset at the end of the year = $23,300
Average asset  =[tex]\dfrac{\$24,640 + \$ 23,300}{2}[/tex]
             =[tex]\$ 23,970 }[/tex]
average turnover ratio = [tex]\dfrac{net\ sale}{average\ asset}[/tex]
                   = [tex]\dfrac{\$ 34,700}{\$ 23970}[/tex]
                   = 1.447
Return on asset  =  [tex]\dfrac{net\ income}{average\ asset}\times 100[/tex]
              = [tex]\dfrac{\$ 94}{\$ 23970}\times 100[/tex]
              = 0.39 %
