D-6 Test Bank for Financial Accounting, Ninth Edition Problem D-V- Ratios (27 points) The financial information below was taken from the annual financial statements of Falls Company. Current assets Current liabilities Total assets Sales revenue Cost of goods sold Inventory Accounts receivable (net) Net income Common stockholders' equity Total liabilities $240,000 80,000 550,000 750,000 520,000 90,000 100,000 60,000 330,000 220,000 $170,000 90,000 450,000 600,000 510,000 110,000 60,000 48,000 270,000 180,000 Instructions Round to one decimal place. Calculate the following ratios for Falls Company fo 1. Return on assets. 2. Average oollection period of receivables in days. 3. Current ratio, 4. Debt to assets ratio. 5. Inventory tumover. 6. Profit margin. 7. Asset turnover. 8. Return on common stockholders' equity