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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
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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