1. compute the three asset efficiency ratios for 2010 and 2011. round two decimals.

2. indicate the length of remingtons operating cycle for the years ended december 31, 2010. round two decimal places

Exercise 12-69 (Algorithmic) Asset Efficiency Ratios Financial statements for Remington Inc. follow. Remington Inc. Consolidated Statements of Income (In thousands except per share amounts) 2009 2010 2011 $ 6,944,296 $6,149,218 Net sales $ 7,245,088 (4,953,556) (4,355,675) Cost of goods sold (5,286,253) $ 1,958,835 Gross income $1,793,543 $1,990,740 General and administrative expenses (1,080,843) (1,259,896) (1,202,042) Special and nonrecurring items 2,617 Operating income $788,698 $701,556 $712,700 Interest expense (63,685) (62,398) (63,927) Other income 7,308 10,080 11,529 Gain on sale of investments 9,117 Income before income taxes $ 645,179 $ 745,497 $ 660,302 Provision for income taxes 254,000 290,000 257,000 Net income $391,179 $ 455,497 $ 403,302 Net income per share $1.08 $1.25 $1.11 Raminaton Ine Remington Inc. Consolidated Balance Sheets (In thousands) Dec. 31, Dec. 31, ASSETS 2011 2010 Current assets: $ 41,235 Cash and equivalents $320,558 Accounts receivable 1,056,911 837,377 Inventories 733,700 803,707 Other 109,456 101,811 Total current assets $2,220,625 $1,784,130 Property and equipment, net 1,666,588 1,813,948 Other assets 248,092 248,372 Total assets 4,135,305 $3,846,450 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities $309,092 $ 250,363 Accounts payable 274,220 347,892 Accrued expenses 15,700 Certificates of deposit 137,466 93,489 Income taxes $ 720,778 $707,444 Total current liabilities $541,639 $ 650,000 Long-term debt 274,844 275,101 Deferred income taxes 41,572 61,267 Other long-term liabilities $1,693,812 $1,578,833 Total liabilities Stockholders' equity: $ 189,727 $ 189,727 Common and preferred stock 127,776 128,906 Paid-in capital 2,136,794 2,397,112 Retained earnings $2,715,745 $2,454,297 (186,680) (274,252) Less: Treasury stock, at cost $2,441,493 $2,267,617 Total stockholders' equity $4,135,305 $3,846,450 Total liabilities and stockholders equity Use the information provided above and below to respond to the following requirements. Statement Item January 1, 2010 (In Thousands) Accounts receivable Inventories Total assets $752,945 698,604 3,485,233 1. Compute the three asset efficiency ratios for 2010 and 2011. Round your answers to two dedimal places. 2011 2010 Accounts receivable turnover ratio Inventory turnover ratio Asset turnover ratio 2. Indicate the length of Remington's operating cycle for the years ended December 31, 2011, and December 31, 2010. Round intermediate calculations and final answers to two decimal places. days 2011 days 2010