Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,280,000. Assets were as follows: Cash : $190,000 Accounts receivable : $810,000 Inventory: $491,000 Net plant and equipment: $589,000 Total assets: $2,080,000 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:

B. In 20X2, sales increased to $5,920,000 and the assets for that year were as follows:

Cash : $190,000 Accounts receivable : $901,000 Inventory: $1,027,000 Net plant and equipment: $589,000 Total assets: $2,707,000 Note: Round your answers to 2 decimal places.

1. Accounts receivable turnover: 2. Inventory turnover: 3. Fixed asset turnover: 4. Total asset turnove:r

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

1. Improvement
2. Decline