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Cranston Incorporated presents the following information. Assume all sales are made on credit. (Balance sheet amounts at March 31 of the prior year were inventory,
Cranston Incorporated presents the following information. Assume all sales are made on credit. (Balance sheet amounts at March 31 of the prior year were inventory, $48,900; total assets, $169,400; common stock, $82,000; and retained earnings, \$44,059.) Required: Complete a financial ratio analysis on Cranston Incorporated by analyzing the following ratios: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on equity. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Compute the total asset turnover
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