Based on the following data, compute:

a) Current Ratio (Industry Average is 2.4)

b) Quick Ratio (Industry Average is 1.5)

c) Inventory Turnover (Industry Average is 100 days)

d) Accounts Receivable Turnover (Industry Average is 59 days)

e) Earnings Per Share (Industry Average is $2)

f) Price-Earnings Ratio (Industry Average is 5)

Data:

Cash = $91,000

A/R = $45,000

A/P = $99,000

Supplies = $1000

Equipment = $400,000

Wages Payable = $6000

Inventory = $110,000

Net Credit Sales = $600,000\

Cost of Goods Sold = $220,000

Average Common Shares = 500,000

Net Income = $1,200,000

Market Price Per Share = $9

Mortgage Payable = $100,000

Preferred Dividends = $50,000

Note: Explain the meaning behind your answers. Be sure to compare to industry averages