Lok Company reports net sales of $$5,000,000$ for Year $2$ and $$8,602,000$ for Year $3.$ End$-$of$-$year balances for total assets are Year $1,$

$$1,655,000$; Year $2,$ $$1,843,000$; and Year $3,$ $$1,939,000$

$(1)$ Compute Lok's total asset turnover for Year $2$ and Year $3.$

$(2)$ Lok's competitor has a Total Asset Turnover of $3\mathrm{.}0$ during Year $3.$ Is Lok performing better or worse than its competitor on the basis

of total asset turnover?

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Required $1$

Compute Lok's total asset turnover for Year $2$ and Year $3.$

Lok Company reports net sales of $$5,000,000$ for Year $2$ and $$8,602,000$ for Year $3.$ End$-$of$-$year balances for total assets are Year $1,$

$$1,655,000$; Year $2,$ $$1,843,000$; and Year $3,$ $$1,939,000.$

$(1)$ Compute Lok's total asset turnover for Year $2$ and Year $3$

$(2)$ Lok's competitor has a Total Asset Turnover of $3\mathrm{.}0$ during Year $3.$ Is Lok performing better or worse than its competitor on the basis

of total asset turnover?

Complete this question by entering your answers in the tabs below.

Required $2$

Lok's competitor has a Total Asset Turnover of $3\mathrm{.}0$ during Year $3.$ Is Lok performing better or worse than its competitor on the

basis of total asset turnover?

Is Lok performing better or worse than its competitor on the basis of total asset turnover?