Charlie's Skate Shop sells ice skating equipment to local hockey teams. He is applying for a loan to build an indoor ice rink and the bank is analyzing his balance sheet to review debt levels. The balance sheet has $100,000 of current liabilities and $25,000 of current assets. Calculate the current ratio: Donny's Furniture Company sells industrial furniture for office buildings. During the year the company reported cost of goods sold of $1,000,000. Beginning inventory was $3,000,000 and ending inventory is $4,000,000. Calculate Donny's inventory turnover ratio: 6. Days' Sales in Inventory Hale \& Carter managements team is very happy with their sales staff as they have been selling more product this year versus last year. At the end of the year the financial statements show ending inventory of $50,000 and cost of goods sold of $150,000. Calculate Hale \& Carter's days sales in inventory