Directions: Computer the following ratios based on the information provided

a) Sales $750,000

Cost of Goods Sold 473000

Merchandise Inventory

Beginning of year 40000

End of Year 44000

Merchandise Inventory Turnover XXX

b) June 30,2018 Total Assets are $650,000

June 30, 2018 Current Liabilities are $250,000

Issued long term note to the bank for $80,000 cash

Before the Transaction After the Transaction

1 Working Capital $400,000 $480,000

2 Current Ratio XXX XXX