Financial statements for Askew Industries for 2024 are shown below (in thousands): 2024 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income $ 9,000 (6,300) 2,700 (2,100) (200) (100) $ 300 Comparative Balance Sheets 2024 December 31 2023 Assets Cash $ 600 $ 500 Accounts receivable Inventory Property, plant, and equipment (net) 600 800 2,000 400 600 2,100 $ 4,000 $ 3,600 Liabilities and Shareholders' Equity Current liabilities $ 1,100 Bonds payable Common stock Retained earnings 1,400 600 900 $ 850 1,400 600 750 $ 4,000 $ 3,600 Required: Calculate the following ratios for 2024. Note: Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places. 1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 9.00 times 40.60 days 18.00 times 20.30 days 2.25 3.33 % < Prev 7 of 8 Next >