1. Accounts Receivable Turnover (assume all Fees Income is credit sales) (net sales or fees income/ accounts receivable). This answer should be a number, not a dollar amount or % as it measure the number of times something happens that you'll have to explain briefly.

2. Return on total assets (net income / total assets). This answer should be a % or a decimal.

3. Debt Ratio (total liabilities / total assets). For this our only liability is accounts payable. Again, this ratio should be a % or a decimal.

Calculate these ratios (show me your work) and also tell me what the ratio, in general, tells us. The statements on page 52 are just for 1 month. That is OK for this. Please take the balances they give you and calculate the ratios for the month they give us.

Financlal Statements for Ell's Consulting Services Eli's Consulting Services Statement of Owner's Equity Month Ended December 31, 20X1 important! Balance Sheet Accounts The amounts on the balance Notice that the accounts are not numbered consecutively. For example, asset account sheet are carried forward to numbers jump from 101 to 111 and then to 121 , 137, and 141 . In each block of numbers, the next accounting period. gaps are left so that additional accounts can be added when needed