Exercise 8-22 Evaluating efficient use of assets LO A1 Lok Co. reports net sales of $5,095,000 for Year 2 and $8.928,000 for Year 3. End of year balances for total assets are Year 1, $1555,000 Year 2. $1,829,000; and Year 3. $1.929.000 (1) Compute Lok's total asset turnover for Year 2 and Year 3. Total Asset Tumover Choose Numerator Choose Denominator: Total Asset Turnover Total asset turnover 1 Year 2 Year - 2 loks competitor has o Total Asset Turnover of 3.0 during Year 3. Is Lok performing better or worse than its competitor on the basis of total asset turnover? Worse Better