Marks 35.38 A declining fixed asset turnover ratio suggests that a: Select one: O a company is not as efficient in using its fixed assets as it was in previous periods. Ob company's net sales must be increasing O c company must have purchased additional intangible assets O d. company's beginning fixed asset balance must be greater than its ending fixed asset balance. Notes + O Unsure 2 Markus 36 of 38 Consumer Tech Ltd provides a two-year warranty on all products it sells to customers. The following information is provided for the company's 2020 fiscal year: Total sales made in 2020 Estimated cost of servicing products under warranty Warranty liability balance at January 1, 2020 Expenditures to satisfy warranty claims in 2020 $25.000.000 2% of sales $40,000 $38,000 What is the balance for warranty liability at the company's year-end on December 31, 2020? Select one: O a. $578,000 O b. $502,000 O c. $500,000 O d. $498,000 Notes