Fall 20 MGT355 Take Home Test Problem 2. Financial Ratios (3 @ 2 points = 6 points) Consider the following financial data from the past year. Gross income Total sales Total credit sales Net income Cost of goods sold Total assets Average inventory Average receivables $ (000) 5,600 4,000 2.800 900 2.500 2,000 500 700 What is the receivable turnover ratio? (2 points) Answer What is the inventory turnover ratio? (2 points) Answer - What is the asset turnover ratio? (2 points)