Financial Ratios

Financial statements for Backlund Farm Supply are shown.

Backlund Farm Supply Income Statement For Year Ended December 31, 20--
Revenue from sales:
Sales			$358,644
Less: Sales returns and allowances			5,896
Net sales				$352,748
Cost of goods sold:
Merchandise inventory, January 1, 20--		$65,120
Estimated returns inventory		880	$66,000
Purchases		$178,904
Less: Purchases returns and allowances	$4,480
Less: Purchases discounts	3,520	8,000
Net purchases		$170,896
Add freight-in		1,760
Cost of goods purchased			172,656
Goods available for sale			$238,656
Less: Merchandise inventory, December 31, 20--		$71,280
Less: Estimated returns inventory		1,320	72,600
Cost of goods sold				166,056
Gross profit				$186,692
Operating expenses:
Wages expense			$76,340
Advertising expense			1,320
Supplies expense			880
Phone expense			3,010
Utilities expense			3,150
Insurance expense			1,760
Depreciation expense-building			11,000
Depreciation expense-store equipment			1,980
Miscellaneous expense			660
Total operating expenses				100,100
Income from operations				$86,592
Other expenses:
Interest expense				704
Net income				$85,888

Backlund Farm Supply Statement of Owners Equity For Year Ended December 31, 20--
J. Backlund, capital, January 1, 20--		$507,752
Add additional investments		80,000
Total investment		$587,752
Net income for the year	$85,888
Less: Withdrawals for the year	5,280
Increase in capital		80,608
J. Backlund, capital, December 31, 20--		$668,360

Backlund Farm Supply Balance Sheet December 31, 20--
Assets
Current assets:
Cash		$25,784
Accounts receivable		10,296
Merchandise inventory		71,280
Estimated returns inventory		1,320
Supplies		2,640
Prepaid insurance		1,980
Total current assets			$113,300
Property, plant, and equipment:
Land		$99,000
Building	$385,000
Less: Accumulated depreciation	22,000	363,000
Store Equipment	$132,000
Less: Accumulated depreciation-Store Equipment	3,960	128,040	590,040
Total assets			$703,340
Liabilities
Current liabilities:
Note payable	$3,000
Accounts payable	10,516
Customer refunds payable	1,760
Wages payable	1,320
Sales tax payable	3,784
Total current liabilities		$20,380
Long-term liabilities:
Note payable	$17,600
Less: Notes payable (current portion)	3,000	14,600
Total liabilities			$34,980
Owner's Equity
J. Backlund, capital			668,360
Total liabilities and owner's equity			$703,340

Net credit sales were $210,000. The Accounts Receivable balance on January 1 was $9,800.

Required:

Compute the financial ratios. Round answers to one decimal place.

Financial Ratios
Current ratio	to 1
Quick ratio	to 1
Working capital	$
Return on owner's equity	%
Accounts receivable turnover
Average number of days to collect receivables	days
Inventory turnover
Average number of days to sell inventory	days