Financial management

20X1 20X2 20X3 Current ratio Accounts receivable turnover Inventory turnover Asset turnover Debt-equity ratio Times interest earned 1.1 13 24 1.3 1.5 3.8 1.15 12 23 1.4 1.4 3.9 1.2 11 22 1.5 13 4,0 Sales for the three years were $1 million $1.2 million, and $1.4 million, respectively. Required: 1. Assume total assets did not change during 20X3. Determine the total debt at the end of 20x3. 2. If cost of sales were 10 percent of total sales, what was the average inventory for 20x3? 3. Comment on the changing liquidity of McDaniel's Place over the three-year period. 4. Comment on the changing solvency of this business over the three year period. The Alston Inn is managed by Inns, Inc. The management contract requires 6 percent of total revenue to be transferred to the replacement reserves to cover future renovations and equipment replacements. Alston Inn's debt service payment is $10,000 per month. The lodging property has 200 guestrooms, an ADR of $100, and a paid occupancy of 70 percent. Its room revenue is 70 percent of its total revenue and its net operating income is 15 percent of its total revenue. Required: 1. Determine the Inn's annual total revenue. 2. Determine the Inn's annual net operating income 3. Determine the Inn's debt service coverage ratio for the year