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Given the following information, compute the current and quick ratios: Cash $ Accounts receivable 110,000 315,000 459,000 525,000 Inventory Current liabilities Long-term debt Equity 592,000 570,000 Round your answers to two decimal places. Current ratio: Quick ratio: If a firm has sales of $20,252,000 a year, and the average collection period for the industry is 60 days, what should this firm's accounts receivable be if the firm is comparable to the industry? Assume there are 365 days in a year. Do not round intermediate calculations. Round your answer to the nearest dollar. ABCD Corporation has credit sales of $13,200,000 and receivables of $1,530,000. Assume there are 365 days in a year. a. What is the receivables turnover? Round your answer to two decimal places. b. What is the average collection period (days sales outstanding)? Round your answer to the nearest whole number. days c. If the company offers credit terms of 30 days, are its receivables past due? Round your answer to the nearest whole number. Enter zero if the receivables are not past due. -Select- , it is days overdue. If a firm has the following sources of finance, $ Current liabilities Long-term debt Preferred stock Common stock 110,000 390,000 75,000 170,000 earns a profit of $25,000 after taxes, and pays $7,000 in preferred stock dividends, what is the return on assets, the return on total equity, and the return on common equity? Round your answers to two decimal places. Return on assets: % Return on total equity: % Return on common equity: % A firm's balance sheets for the last two years are as follows: YEAR 20X1 Assets Cash $ 25,000 Accounts receivable Inventory Plant and equipment 25,000 20,000 30,000 Liabilities and Equity Accounts payable $ 12,000 Accruals 7,000 Current bank note 13,000 Long-term debt 37,000 Common stock 13,000 Retained earnings 18,000 $ 100,000 $ 100,000 YEAR 20X2 Assets Cash $ 24,000 Accounts receivable Inventory Plant and equipment 26,000 20,000 30,000 Liabilities and Equity Accounts payable $ 12,000 Accruals 16,000 Current bank note 9,000 Long-term debt 22,000 Common stock 19,000 Retained earnings 22,000 $ 100,000 $ 100,000 Sales in 20X1 were $230,000. Sales in 20X2 were $230,000. a. Based solely on the current ratio and the quick ratio, has the firm's liquidity position deteriorated or improved? Round your answers to two decimal places. Current ratios: 20x1: 20x2: Sales in 20x1 were $230,000. Sales in 20x2 were $230,000. a. Based solely on the current ratio and the quick ratio, has the firm's liquidity position deteriorated or improved? Round your answers to two decimal places. Current ratios: 20x1: 20x2: Quick ratios: 20x1: 20x2: The firm's liquidity position has -Select- b. Without doing a calculation, has days sales outstanding (receivables turnover) improved? Days sale outstanding has -Select- c. Without doing a calculation, has inventory turnover deteriorated? Inventory turnover has -Select- d. If the firm earned $5,000 during 20x2, what proportion of those earnings were distributed? Round your answer to two decimal places
