Bennis Company has the following comparative balance sheet data.

BENNIS COMPANY

Balance Sheets

December 31

2009 2008

Cash $ 15,000 $ 30,000

Receivables (net) 70,000 60,000

Inventories 60,000 50,000

Plant assets (net) 200,000 180,000

$345,000 $320,000

Accounts payable $50,000 $60,000

Mortgage payable (15%) 100,000 100,000

Common stock, $10 par 140,000 120,000

Retained earnings 55,000 40,000

$345,000 $320,000

Additional information for 2009:

1. Net income was $25,000.

2. Sales on account were $410,000. Sales returns and allowances were $20,000.

3. Cost of goods sold was $198,000.

Instructions

Compute the following ratios at December 31, 2009. (Round answers to 1 decimal place, e.g. 10.5.)

(a) Current ratio : 1

(b) Acid-test ratio : 1

(c) Receivables turnover times

(d) Inventory turnover times