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Horatios Inn Select Financial Ratios 20X1 20X2 20X3 Current ratio 1.1 1.15 1.2 Accounts receivable turnover 13 12 11 Inventory turnover 24 23 22

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Horatios Inn Select Financial Ratios 20X1 20X2 20X3 Current ratio 1.1 1.15 1.2 Accounts receivable turnover 13 12 11 Inventory turnover 24 23 22 Asset turnover 1.3 1.4. 1.5 Debt-equity ratio 1.5 1.4. 1.3 Times interest earned 3.8 3.9 4 Revenue for the three years were $2 milliion, $ 2.2 million, and $ 2.3 million, respectively. Required: 1. Assume total assets did not change during 20X3. Determine the total debt at the end of 20X3.

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