Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has invested in a particular type of asset (or group of assets) to the amount of revenues the asset is generating. Examples of asset management ratios include the average collection period (also called the days sales outstanding ratio), the inventory turnover ratio, the fixed asset turnover ratio, and the total asset turnover ratio. Crockett Electronics has a quick ratio of 2.00,$37,575 in cash, $20,875 in accounts recelvable, some inventory, total current assets of $83,500, and total current liabilities of $29,225. The company reported annual sales of $100,000, and cost of goods sold equal to 75% of sales in the most recent annual report. Over the past year, how often did Crockett Electronics sell and replace its inventory? 3.29x 2.86x 3.99x 2.99x The inventory turnover ratio across companies in the electronics industry is 2.54 , Eased on this information, which of the following statements is true for Crockett Electronics? Crockett Electronics is holding more inventory compared to the Industry average. Crockett Electronics is holding less inventory compared to the industry average. You are analyzing two companies that manufacture electronic toys: Uke Games Inc, and Our Play Inc. Uke Games was launched eight years ago, Whereas Our Play is a relatively new company that has been in operation for only the past two years. However, both companies have an equal market share with sales of $100,000 each. You've collected company data to compare Like Games and Our play Last year, the average sales for all industry competitors was \$255,000. As an analyst, you want to make comments on the expected performance of these two companies in the coming year. You've collected data from the companies' financial statements. This information is listed as follows:(Note: Assume there are 365 days in a year.) Using this information, complete the following statements to include in your analysis. 1. Our Piay has days of saies tied up in receivables, which is much than the industry average, It takes Our Play time to coliect cash from its custemers than it takes Lke Games. 2. Like Games's fixed assets turnever ratio is than that of Our Play. This is because Like Games was formed eight years ago, so the acquisition cost of its fired assets is recorded at historic values when the compamy bought its assets and has been depreciated unce then. Aswuming that fixed assets prices (not book values) rose over the past six years due to inflation, Our Play paid a amount for its fived assets. 3. The average total assets tumover ratio in the electronic toys industry is , which means that of rales is being generated with every dollar of investment in assets. A total assets tumever ratio indicates greater ethciency. Both companies' total assets tumover ratios are than the industry average