Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,170,000. Assets were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets 138,000 841,080 439,000 533,000 $1,951,000 a. Compute the following: (Round your answers to 2 decimal places.) Turnover Ratios times 1. Accounts receivable turnover 2. Inventory tumover 3. Fixed asset turnover 4. Total asset turnover times times times b. In 20x2, sales increased to $5,890,000 and the assets for that year were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets $ 138,000 926,000 991,000 533,000 $2,588,000 b. In 20X2, sales increased to $5,890,000 and the assets for that year were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets $ 138,000 926,000 991,000 533,000 $2,588,000 Compute the following: (Round your answers to 2 decimal places.) 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset tumover Turnover Ratlos times times times times c. Is there an improvement or a decline in the total asset turnover? Improvement Decline