4 03:37:39 eBook Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,140,000. Assets were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets a. Compute the following: Note: Round your answers to 2 decimal places. 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset turnover $ 160,000 812,000 413,000 571,000 $ 1,956,000 Cash Accounts receivable Inventory b. In 20X2, sales increased to $5,200,000 and the assets for that year were as follows: Net plant and equipment Total assets Turnover Ratios times times times times $ 160,000 915,000 990,000 571,000 $ 2,636,000

Jim Short's Company makes clothing for schools. Sales in 201 were $4,140,000. Assets were as follows: a. Compute the following: Note: Round your answers to 2 decimal places. b. In 202, sales increased to $5,200,000 and the assets for that year were as follows