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Please show work Lok Co. reports net sales of $4,460,000 for Year 2 and $8,395,000 for Year 3. End-of-year balances for total assets are Year
Please show work
Lok Co. reports net sales of $4,460,000 for Year 2 and $8,395,000 for Year 3. End-of-year balances for total assets are Year 1 S1625.000 Year 2 $1,806,000, and Year 3, S1,933,000. (1) Compute Lok's total asset turnover for Year 2 and Year 3. Total Asset Turnover Choose Numerator: Choose Denominator: Total Asset Turnover Year 2 Year 3 S $ 1.625,000 1.806.000 5 $ 1,806,000 = 1.933,000 Total asset turnover 0.90 0.93 ho (2) Lok's competitor has a Total Asset Turnover of 3.0 during Year 3. Is Lok performing better or worse than its competitor on the basis of total asset turnover? Better Worse Step by Step Solution
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