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Financial statements for Lowe Company appear below: Lowe Company Income Statement for Total dividends paid during the year were $25,000, of which $12,000 was paid
Financial statements for Lowe Company appear below: Lowe Company Income Statement for Total dividends paid during the year were $25,000, of which $12,000 was paid to the preferred shareholders. Required: Calculate the following for Year 2: a) Current ratio. b) Acid-test (quick) ratio. c) Average collection period (age of receivables). d) Inventory turnover. e) Return on total assets. f) Times interest earned. g) Debt-to-equity ratio
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