Jim Shorts Company makes clothing for schools. Sales in 2013 were $4,370,000. Assets were as follows:

Cash	$	175,000
Accounts receivable		809,000
Inventory		447,000
Net plant and equipment		501,000
Total assets	$	1,932,000

a.	Compute the following: (Round your answers to 2 decimal places.)

1.	Accounts receivable turnover		times
2.	Inventory turnover		times
3.	Fixed asset turnover		times
4.	Total asset turnover		times

b.	In 2014, sales increased to $5,430,000 and the assets for that year were as follows:

Cash	$	175,000
Accounts receivable		976,000
Inventory		1,004,000
Net plant and equipment		501,000
Total assets	$	2,656,000

Compute the following: (Round your answers to 2 decimal places.)

1.	Accounts receivable turnover		times
2.	Inventory turnover		times
3.	Fixed asset turnover		times
4.	Total asset turnover		times

c.

Is there an improvement or a decline in the total asset turnover?

	Decline
	Improvement