1.) Given the following:

Current Assets	$	18,000
Accounts Receivable	$	3,000
Current Liabilities	$	16,000
Inventory	$	2,000
Net Sales	$	41,000
Total Assets	$	29,000
Net Income	$	6,000

Find the following (round to the nearest hundredth if needed):

A.	Current ratio	?
B.	Acid test	?
C.	Average day's collection	?	days
D.	Asset Turnover	?
E.	Profit margin on sales	?

2.) Complete using trend analyses for sales. Round to nearest percent and use 2014 as the base year.

	2017		2016		2015		2014
Sales	$ 158,000		$ 615,000		$ 280,000		$ 500,000
		%		%		%		%

3.) From the following information, could you help Bill calculate his cost of merchandise sold?

Beginning inventory	$	2,500
Purchases	$	3,000
Purchase returns	$	400
Purchase discounts	$	100
Ending inventory	$	2,100

Cost of Merchandise Sold

???

4.) Al Flynn has gathered the following information. Could you help Al calculate his gross profit?

Gross sales	$ 25,000
Sales discounts	$ 3,000
Beg inventory	$ 2,000
Net purchases	$ 4,000
Ending inventory	$ 2,800
Operating expense	$ 1,800

Gross Profit

????