You have observed that the asset turnover ratio for a retail chain has increased steadily over the last three years. The most likely explanation is which of the following?

a. A successful advertising campaign increased sales companywide. but no new store locations were added over the last three years.

b. Salaries for upper management as a percentage of total expenses have decreased over the last three years.

c. New stores were added throughout the last three years, and sales increased as a result of the additional new locations.

d. The company began construction of a new, larger main office location three years ago that was put into use at the end of the second year.