1 Selected information from the comparative financial statements of Patrick Parker Inc for the year ended December 31, appears below 2 2021 2020 3 Accounts receivable 4 Inventory 1,30,000 1,45,000 5 Total assets 6 Current liabilities 1,96,000 1,05,000 7 Non-current liabilities 4,00,000 3,22,000 8 Net credit sales ### ### 9 Cost of goods sold 7,00,000 6,19,000 10 Interest expense 75,000 30,000 11 Income tax expense 60,000 44,000 12 Profit 2,10,000 97.000 13 14 Instructions 15 Answer the following questions relating to the year ended December 31, 2021 16 a) The inventory turnover for 2021 is 12 b). The interest coverage in 2021 is 18 The debt to total assets for 2021 is 19 d) The receivables turnover for 202115 20 e) The return on assets for 2021 is 21 22 23 24 25 1 Selected information from the comparative financial statements of Patrick Parker Inc for the year ended December 31, appears below 2 2021 2020 3 Accounts receivable 4 Inventory 1,30,000 1,45,000 5 Total assets 6 Current liabilities 1,96,000 1,05,000 7 Non-current liabilities 4,00,000 3,22,000 8 Net credit sales ### ### 9 Cost of goods sold 7,00,000 6,19,000 10 Interest expense 75,000 30,000 11 Income tax expense 60,000 44,000 12 Profit 2,10,000 97.000 13 14 Instructions 15 Answer the following questions relating to the year ended December 31, 2021 16 a) The inventory turnover for 2021 is 12 b). The interest coverage in 2021 is 18 The debt to total assets for 2021 is 19 d) The receivables turnover for 202115 20 e) The return on assets for 2021 is 21 22 23 24 25