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Exercise 8-22 Evaluating efficient use of assets LO A1 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 $1625,000; Year 2.51,806,000, and Year 3. $1.933,000 (1) Compute Lok's total asset turnover for Year 2 and Year 3. Total Asset Tumover Choose Numerator: Choose Denominator Total Asset Turnover 2 s Year 2 Year 3 $ $ 1,625,000 1,806,000 1.806.000 1.933,000 Total asset turnover 090 0.93 S (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