Question Completion Status: LUNDU GYMS 2017 2017 23,727 507 sold 17,084 602 Income Statement 2016 Net sales 22,010 Cost of good 17,608 Depreciation 1,981 EBIT 2,421 Interest expense 96 Tax (20%) 465 Net Income 1,860 2.136 911 4,507 98 2,020 4,938 882 6,958 3,527 Balance Sheet Assets 2016 Cash and 497 securities Accounts 639 receivable Inventories 852 Total current assets 1,988 Net fixed assets 5,112 Total assets 7.100 Liabilities and Owners' Equity Accounts payable 284 Short-term notes 781 Total current liabilities 1,065 Long-term debt 799 Common stock 1,832 Retained earings 3,404 Total liabilities and owners' equity 7.100 262 720 982 811 1,673 3,492 6,958 Given the financial statements for SW Inc. above, comment on the change in asset turnover over the past two years? Asset turnover has declined showing a higher utilization of assets in generating revenue Asset turnover in unchanged showing a higher utilization of assets in generating revenue Asset turnover is unchanged showing a lower utilization of assets in generating revenue Asset tumover has increased showing a lower utilization of assets in generating revenue Asset turnover has increased showing a higher utilization of assets in generating revenue