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Complete the ratios for the current year: Current Year Preceding Year Balance Sheet: Cash $ 16,000 $ 26,000 Short Term Investments 19,000 27,000 Net Accounts
Complete the ratios for the current year:
Current Year | Preceding Year | |
Balance Sheet: | ||
Cash | $ 16,000 | $ 26,000 |
Short Term Investments | 19,000 | 27,000 |
Net Accounts Receivable | 60,000 | 92,000 |
Merchandise Inventory | 78,000 | 74,000 |
Prepaid Expenses | 17,000 | 6,000 |
Total Current Assets | 190,000 | 226,000 |
Total Current Liabilities | 136,000 | 82,000 |
Income Statement: | ||
Net Credit Sales | 476,000 | |
Cost of Goods Sold | 312,000 |
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Current ratio E. Days sales in inventory
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Cash ratio F. Days sales in receivables
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Acid-test ratio G Gross profit percentage
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Inventory Turnover
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