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Ex10-22 Evaluating efficient use of assets Joy Co. reports net sales of $4,862,000 for 2014...

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Ex10-22 Evaluating efficient use of assets Joy Co. reports net sales of $4,862,000 for 2014 and $7,542,000 for 2015 . End-of-year balances for total assets are 2013,$1,586,000;2014,$1,700,000; and 2015, $1,882,000. (a) Compute Joy's total asset turnover for 2014 and 2015. (b) Comment on Joy's efficiency in using its assets if its competitors average a total asset turnover of 3.0

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