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Account Current year Prior year Cash $25,000 $1 5,900 Accounts receivable, net $45,000 $23,200 Inventory $37,000 $25,000 Prepaid expenses $2,000 $1,500 Total current assets $109,000
Account Current year Prior year Cash $25,000 $1 5,900 Accounts receivable, net $45,000 $23,200 Inventory $37,000 $25,000 Prepaid expenses $2,000 $1,500 Total current assets $109,000 $65,600 Total long-term assets $62,000 $38,000 Total current liabilities $52,500 $41,600 Total long-tenn liabilities $20,000 $22,700 Common stock, no per, 3,000 shares, value $50fshare $30,000 $30,000 Net sales (all cred it) $520,125 $499,500 Cost of goods sold $375,960 $353,600 Gross prot $144,165 $145,900 Interest expense $23,000 $1 9,500 Net income $57,600 $51,600 Required: What is the acid-test ratio for the current year? What is the inventory turnover for the current year? What is days' sales in receivables for the current year? What is the rate of return on total assets for the current year? What is the times-interest-earned ratio for the current year? What is the current ratio for the cunent year
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