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Question - Suncor Energy Inc. reported the following information for the fiscal years ended December 31, 2020 and December 31, 2021 (in millions):
December 31, 2021
December 31, 2020
Net revenues
$39,337
$32,003
Profit
4,304
3,829
Total assets, end of year
74,777
68,607
Total assets, beginning of year
67,799
Required -
a) Calculate Suncor's asset turnover and return on assets for the two years.
b) Explain the terms Asset Turnover ratio and Return on Assets ratio.
c) Discuss Suncor's asset turnover and return on assets for the two years.
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