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Frizell Company has the following comparative balance sheet data. Additional information for 2015: Net income was $24, 090. Sales on account were $411, 050. Sales
Frizell Company has the following comparative balance sheet data. Additional information for 2015: Net income was $24, 090. Sales on account were $411, 050. Sales returns and allowances were $20, 880. Cost of goods sold was $197, 620. Compute the following ratios at December 31, 2015. (Round answers to 1 decimal place, e.g. 1.6.) Current ratio Acid-test ratio Accounts receivable turnover times Inventory turnover
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