Financial Ratios

Based on the financial statements for Jackson Enterprises (income statement, statement of owner's equity, and balance sheet) shown below, prepare the following financial ratios. All sales are credit sales. The Accounts Receivable balanceon January 1, 20--, was $21,426. Assume 365 days per year.

1.Working capital

2.Current ratio

3.Quick ratio

4.Return on owner's equity

5.Accounts receivable turnover and average number of days required to collect receivables

6.Inventory turnover and average number of days required to sell inventory

If required, round your answers to two decimal places. For return on owner's equity, enter as a percent but do not include percent sign.

Round average number of days answers to one decimal place.