Each Answer must be At least 100 Words; With citations every question.

(3-5) How might (a) seasonal factors and (b) different growth rates distort a comparative ratio analysis? Give some examples. How might these problems be alleviated?

(3-6) Why is it sometimes misleading to compare a companys financial ratios with those of other firms that operate in the same industry?

(3-1) Greene Sisters has a DSO of 20 days. The companys average daily sales are $20,000. What is the level of its accounts receivable? Assume there are 365 days in a year.

(3-2) Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in long-term debt. What is the debt ratio?

(3-3) Winston Watchs stock price is $75 per share. Winston has $10 billion in total assets. Its balance sheet shows $1 billion in current liabilities, $3 billion in long-term debt, and$6 billion in common equity. It has 800 million shares of common stock outstanding.What is Winstons market/book ratio?

(3-7) Ace Industries has current assets equal to $3 million. The companys current ratio is 1.5, and its quick ratio is 1.0. What is the firms level of current liabilities? What is the firms level of inventories?