Calculate the following ratios:

1. Current ratio

2. AR T/O

3. Average Collection Period

4. Inventory Turnover

5. Days in Inventory

6. Profit Margin

E18-7 Frizell Company has the following comparative balance sheet data. FRIZELL COMPANY Balance Sheets December 31 Cash Accounts receivable (net) Inventory Plant assets (net) 2017 $ 15,000 70,000 60,000 200,000 $345,000 2016 30,000 60,000 50,000 180,000 $320,000 Accounts payable Mortgage payable (6%) Common stock, $10 par Retained earnings $ 50,000 100,000 140,000 55,000 $345,000 $ 60,000 100,000 120,000 40,000 $320,000 Additional information for 2017: 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 31,2017