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Carla Companys condensed financial statements provide the following information. CARLA COMPANY BALANCE SHEET Dec. 31, 2020 Dec. 31, 2019 Cash $ 7,000 $ 23,000 Accounts

Carla Companys condensed financial statements provide the following information.

CARLA COMPANY BALANCE SHEET

Dec. 31, 2020

Dec. 31, 2019

Cash

$ 7,000 $ 23,000

Accounts receivable (net)

152,000 111,000

Short-term investments

52,000 31,000

Inventories

301,000 266,000

Prepaid expenses

13,000 8,000

Total current assets

$ 525,000 $ 439,000

Property, plant, and equipment (net)

457,000 423,000

Total assets

$982,000 $862,000

Current liabilities

277,000 199,000

Bonds payable

250,000 259,000

Common stockholders equity

455,000 404,000

Total liabilities and stockholders equity

$982,000 $862,000

INCOME STATEMENT FOR THE YEAR ENDED 2020

Net sales

$2,604,000

Cost of goods sold

(1,658,000)

Gross profit

946,000

Selling and administrative expenses

(587,000)

Interest expense

(23,000)

Net income

$ 336,000

Determine the following for 2020. (Round accounts receivable turnover and inventory turnover to 1 decimal place, e.g. 15.2. Round current ratio, acid-test ratio, rate of return on assets and profit margin on sales to 2 decimal places, e.g. 1.59 or 45.87%.)

(1)

Current ratio at December 31

times

(2)

Acid-test ratio at December 31

times

(3)

Accounts receivable turnover

times

(4)

Inventory turnover

times

(5)

Rate of return on assets

%

(6)

Profit margin on sales

%

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