Return on Assets 2019 2020 2021 10% 11% 13% 40 times 42 times 44 times Asset Turnover Note: Return on Assets is calculated as net income divided by average total assets. Asset turnover is calculated as net sales divided by average total assets Based upon the above, Flyer Corp.: OA. experienced an improvement in the liquidity of its long-lived assets. B. improved the efficiency with which it used assets to generate sales. OC. experienced a decline in the efficiency of using assets to generate sales. D. experienced an improvement in the solvency of its long-lived assets.