Georgette Company has these comparative balance sheet data:

Additional information for 1998:1. Net income was \(\$ 25,000\).2. Sales on account were \(\$ 420,000\). Sales returns and allowances amounted to \(\$ 20,000\).3. Cost of goods sold was \(\$ 198,000\).4. Net cash provided by operating activities was \(\$ 44,000\).InstructionsCompute the following ratios at December 31, 1998:

(a) Current

(f) Average days in inventory

(b) Acid-test(g) Cash return on sales

(c) Receivables turnover(h) Cash debt coverage

(d) Average collection period(i) Current cash debt coverage

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GEORGETTE COMPANY Balance Sheet December 31 Cash Receivables (net) Inventories Plant assets (net) Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings 1998 $ 20,000 65,000 60,000 200,000 $345,000 $ 50,000 100,000 140,000 1997 $ 30,000 60,000 50,000 180,000 $320,000 $ 60,000 100,000 120,000 55,000 40,000 $345,000 $320,000