Billy's Bait Shop, LLC

Required:

Calculate Current Ratio, Working Capital, Inventory Turnover and Average Collection Period, Return on Investment.

Homework Billy's Bait Shop, LLC Balance Sheet Current Assets Working Capital =1=1=1=1=1=1=1=1=> Current Liabilities Inventory Turnover =1==1=1=1 Days Average Inventory Average Collection Period ====1==> Days Average Accounts Receivable Return on Equity ==1=1=1==> Average Owners Equity Merchandise Inventory 12/31/20 Cost of Goods Sold-2021 Net Credit Sales 2021 Accounts Receivable 12/31/20 Billy, Capital 12/31/20 Net Income-2021 102,000278,00045,00011,00084,00045,000 Required: Calculate Current Ratio, Working Capital, Inventroy Turnover and Average Collection Period, Return on Investment