Lok Co. reports net sales of $5,836,480 for 2012 and $8,679,690 for 2013. Fuul-of-year balances for total assets are 2011, $1,686,000; 2012, $1,800,000; and 2013, $1,982,000.

(a) Compute Lok's total a.sset turnover tor 2012 and 2013. (/?) Comment on Lok’s efficiency in using its assets if its competitors average a total asset turnover of 3.0.