Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,940,000. Assets were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets $ 153,000 831,000 458,000 590,000 $2,032,000 a. Compute the following: (Round your answers to 2 decimal places.) Turnover Ratios times times 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset turnover times times b. In 20x2, sales increased to $5,530,000 and the assets for that year were as follows: Cash S 153.900 ermediate Problems a b. In 20X2, sales increased to $5,530,000 and the assets for that year were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets $ 153,000 952,000 1,048,000 590,000 $2,743,000 Compute the following: (Round your answers to 2 decimal places.) Turnover Ratios 1. Accounts receivable turnover times 2. Inventory turnover times times 3. Fixed asset turnover 4. Total asset turnover times Is there an improvement or a decline in the total asset turnover? Decline O Improvement