Do not round any intermediary computations except for ratio results that are included in the computation of another ratio. Round the accounts receivable turnover, the asset turnover, and the rate of return on total assets to two decimal places, X.XX. Round the day's sales in receivables to the nearest whole day. Abbreviations used: AR = Accounts receivable; ROR = rate of return; STI = short-term investments.

I uploaded 4 photos, the 1st is the question, 2nd/3rd are the balance sheet, 4th is the income statement.

Ratio 11 Efficiency: (0) AR turnover (i) Day's sales in receivables (iii) Asset turnover (iv) ROR on total assets 11 Formula Net credit sales / Average net accounts receivable 365 days / Accounts receivable turnover ratio Net sales revenue / Average total assets = (Net income + Interest expense) / Average total assets days II = $ 731,233 300 Top Notch Appliance-Coronado Balance Sheet December 31, 2018 Assets Current Assets: Cash Petty Cash Accounts Receivable $ 240,000 Less: Allowance for Bad Debts (14,400) Merchandise Inventory Office Supplies Prepaid Insurance Interest Receivable Notes Receivable Total Current Assets Property, Plant, and Equipment: Land Building 310,000 Less: Accumulated DepreciationBuilding (10,000) Store Fixtures 82,500 Less: Accumulated DepreciationStore Fixtures (5,500) Office Equipment 65,000 Less: Accumulated Depreciation-Office Equipment (26,000) Total Property, Plant, and Equipment 225,600 18,000 250 1,500 6,533 280,000 $ 1,263,416 130,000 300,000 77,000 39,000 546,000 Intangible Assets Franchise 45,900 $ 1,855,316 Total Assets Liabilities $ 350,000 30,000 Current Liabilities: Accounts Payable Interest Payable Total Current Liabilities Long-term Liabilities: Notes Payable Total Liabilities 380,000 300,000 680,000 Owner's Equity Balfort, Capital $ 1,175,316 $ Total Liabilities and Owner's Equity 1,855,316 Year Ended December 31, 2018 Net Sales Revenue $ 2,090,000 1,112,000 978,000 146,300 140,000 13,500 1,500 Cost of Goods Sold Gross Profit Operating Expenses Franchise Fee Expense Salaries Expense Utilities Expense Insurance Expense Supplies Expense Bad Debt Expense Bank Expense Credit Card Expense Depreciation ExpenseBuilding Depreciation ExpenseStore Fixtures Depreciation Expense-Office Equipment Amortization Expense-Franchise Cash Short and Over Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue Interest Expense Total Other Income and (Expenses) 1,404 14,400 1,750 1,650 10,000 5,500 26,000 5,100 13 367,117 610,883 16,433 (30,000) (13,567) $ 597,316 Net Income (Loss)