1 Shirt Manufacturing Company has Total Assets of $80,000 with the following Income Statement categories:

Sales $126,000

Cost of Goods Sold 93,000

Selling & Administrative Expense 11,000

Lease Expense 4,000

Interest Expense 3,000

Taxes 4,500

Using the above information from question 3, calculate the following:

1 Gross Margin (2)

2 Total Interest Coverage (2)

3 Profit Margin (2)

4 Total Asset Turnover (2)

5 Return on Assets (2)

2 Total Clothing Company had Sales of $2,400,000 in 2021 with 90% of Sales sold on credit. The 2021 balance sheet for Total Clothing Company shows the following:

Assets Liabilities and Equity

Cash $ 60,000 Accounts Payable $ 220,000

Accounts Receivable 240,000 Accrued Taxes 30,000

Inventory 350,000 Long-Term Bonds Payable 150,000

Plant & Equipment 410,000 Common Stock 80,000

Paid-in-Capital 200,000

Retained Earnings 380,000

Total Assets $ 1,060,000 Total Liabilities and Equity $ 1,060,000

Using the data from #4 above, calculate the following:

1 Current Ratio (2)

2 Quick Ratio (2)

3 Debt-Total-Assets Ratio (2)

4 Asset Turnover (2)

5 Average Collection Period (2)