Assuming that all sales were on account, calculate the following risk ratios for 2024. (Use 365...
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Assuming that all sales were on account, calculate the following risk ratios for 2024. (Use 365 days a year. Round yo to 1 decimal place.) Risk Ratios 1. Receivables turnover ratio times 2. Average collection period days 3. Inventory turnover ratio 4. Average days in inventory 5. Current ratio 3.4 times days 6. Acid-test ratio 7. Debt to equity ratio 1.1 % 8. Times interest earned ratio times Total assets 872,400 $728,280 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $60,000 $75,000 Common stock Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Retained earnings 4,800 2,400 12,000 13,400 279,000 219,000 294,000 294,000 222,600 124,480 Total liabilities and stockholders' equity $872,400 $728,280 Assuming that all sales were on account, calculate the following risk ratios for 2024. (Use 365 days a year. Round yo to 1 decimal place.) Risk Ratios 1. Receivables turnover ratio times 2. Average collection period days 3. Inventory turnover ratio 4. Average days in inventory 5. Current ratio 3.4 times days 6. Acid-test ratio 7. Debt to equity ratio 1.1 % 8. Times interest earned ratio times Total assets 872,400 $728,280 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $60,000 $75,000 Common stock Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Retained earnings 4,800 2,400 12,000 13,400 279,000 219,000 294,000 294,000 222,600 124,480 Total liabilities and stockholders' equity $872,400 $728,280
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