Sophia Gourmet has the following comparative balance sheet data.

Additional information for 2008:
1. Net income was $25,000.
2. Sales on account were $420,000. Sales returns and allowances were $20,000.
3. Cost of goods sold was $198,000.
4. The allowance for doubtful accounts was $2,500 on December 31, 2008, and $2,000 on December 31, 2007.
Compute the following ratios on December 31, 2008:
(a) Current
(b) Acid-test
(c) Receivables turnover
(d) Inventoryturnover

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SOPHIA GOURMET Balance Sheets December 31 15,000 30,000 60,000 Receivables (net) Inventories Plant assets (net) 200,000 $345,000 S 40,000 100,000 140,000 180,000 320,000 S 60,000 00,000 Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings 40,000 $345,000 320,000