Frizell Company has the following comparative balance sheet data.

Additional information for 2015:
1. Net income was $25,000.
2. Sales on account were $410,000. Sales returns and allowances were $20,000.
3. Cost of goods sold was $198,000.

Instructions
Compute the following ratios at December 31, 2015.
(a) Current ratio.
(b) Acid-test ratio.
(c) Accounts receivable turnover.
(d) Inventoryturnover.

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FRIZELL COMPANY Balance Sheets December 31 2014 30,000 60,000 0,000 180,000 $320,000 2015 Cash Accounts receivable (net) Inventory Plant assets (net) 15,000 70,000 60,000 200,000 $345,000 Accounts payable Mortgage payable (696) Common stock, $10 par Retained earnings 50,000 100,000 140,000 55,000 345,000 60,000 100,000 120,000 40,000 $320,000