Exercise 24-4 As loan analyst for Utrillo Bank, you have been presented the following information. Toulouse Co. Lautrec Co. Assets Cash $124,800 $329,600 Receivables 216,100 305,800 Inventories 569,600 510,300 Total current assets 910,500 1,145,700 Other assets 495,200 617,200 Total assets $1,405,700 $1,762,900 Liabilities and Stockholders Equity Current liabilities $298,600 $350,800 Long-term liabilities 403,400 495,200 Capital stock and retained earnings 703,700 916,900 Total liabilities and stockholders equity $1,405,700 $1,762,900 Annual sales $949,000 $1,512,400 Rate of gross profit on sales 30 % 40 % Each of these companies has requested a loan of $50,240 for 6 months with no collateral offered. Because your bank has reached its quota for loans of this type, only one of these requests is to be granted. Compute the various ratios for each company. (Round answer to 2 decimal places, e.g. 2.25.) Toulouse Co. Lautrec Co. Current ratio : 1 : 1 Acid-test ratio : 1 : 1 Accounts receivable turnover times times Inventory turnover times times Cash to current liabilities : 1 : 1