Gladys feske ( ompanj has these comparative balance sheet data

Additional inlormalin !1. Net income was $25,000.
2. Sales on account ueie >420.()()(). 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.
Instructions
Compute the following ratios at December 31, 2002.

(a) Current.

(b) Acid-test.

(c) Receivables turnover.

(d) Average collection period.

(e) Inventory turnover.
( I ) Days in inventory.
(g) Cash return on sales. (h) Cash debt coverage.
(i) Current cash debt coverage

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GLADYS JESKE COMPANY Balance Sheets December 31 Cash Receivables (net) Inventories Plant assets (net) Accounts payable Mortgage payable (15%) Common stock, $10 par Retained earnings 2002 2001 $ 20,000 $ 30,000 65,000 60,000 200,000 $345,000 $ 50,000 100,000 140,000 60,000 50,000 180,000 $320,000 $ 60,000 100,000 120,000 55,000 40,000 $345,000 $320,000