At December $31$ Current Year $1$ Year Ago $2$ Years Ago

Assets

Cash $ $30,200$ $ $35,500$ $ $37,800$

Accounts receivable, net $88,80062,00049,000$

Merchandise inventory $111,00084,00055,000$

Prepaid expenses $10,7009,4505,300$

Plant assets, net $281,000249,000228,000$

Total assets $ $521,700$ $ $439,950$ $ $375,100$

Liabilities and Equity

Accounts payable $ $128,800$ $ $72,250$ $ $50,000$

Long$-$term notes payable $95,00099,75083,800$

Common stock, $$10$ par value $161,500161,500161,500$

Retained earnings $136,400106,45079,800$

Total liabilities and equity $ $521,700$ $ $439,950$ $ $375,100$

The company$$s income statements for the Current Year and $1$ Year Ago, follow.

For Year Ended December $31$ Current Year $1$ Year Ago

Sales $ $775,000$ $ $540,000$

Cost of goods sold $ $457,250$ $ $345,600$

Other operating expenses $240,250124,200$

Interest expense $11,50013,200$

Income tax expense $9,3508,725$

Total costs and expenses $718,350491,725$

Net income $ $56,650$ $ $48,275$

Earnings per share $ $3\mathrm{.}51$ $ $2\mathrm{.}99$

For both the Current Year and $1$ Year Ago, compute the following ratios:

$(2)$ Compute total asset turnover for the current year and one year ago.