Jim Shorts Company makes clothing for schools. Sales in 20X1 were $4,960,000. Assets were as follows: Cash $ 122,000 Accounts receivable 887,000 Inventory 446,000 Net plant and equipment 501,000 Total assets $ 1,956,000 a. Compute the following: (Round your answers to 2 decimal places.) b. In 20X2, sales increased to $5,400,000 and the assets for that year were as follows: Cash $ 122,000 Accounts receivable 902,000 Inventory 981,000 Net plant and equipment 501,000 Total assets $ 2,506,000 Compute the following: (Round your answers to 2 decimal places.) c. Is there an improvement or a decline in the total asset turnover? Decline Improvement