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Financial statements for Askew Industries for 2024 are shown below (in thousands): Income Statement Net sa Cost of Bus sold Gross profit Operating expenses
Financial statements for Askew Industries for 2024 are shown below (in thousands): Income Statement Net sa Cost of Bus sold Gross profit Operating expenses Interest expense Income tax expense Net income Assets Cash Accounts receivable Inventory $ 10,000 (6,550) 3,450 (2,350) (300) (320) $ 480 Comparative Balance Sheets December 31 2024 2023 $ 700 700 $ 600 500 900 700 3,000 3,100 $ 5,300 $ 4,900 $ 1,450 Property, plant, and equipment (net) Liabilities and Shareholders' Equity Bonds payable Current liabilities Common stock Retained earnings $ 1,700 1,900 700 1,900 700 1,000 850 $ 5,300 $ 4,900 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 7. Return on assets 8 Return on equity times days times days % % % 9 Equity multiplier times 10. Return on equity (using the DuPont framework) %
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