HW Exercise 24-4 As loan analyst for Utrillo Bank, you have been presented the following information. Toulouse Co. Lautrec Co. Assets Cash $120,000 $320,000 Receivables 220,000 302,000 (Part sion Inventories 570,000 518,000 Total current assets 910,000 1,140,000 Other assets 500,000 612,000 s by Study Total assets $1,410,000 $1,752,000 Liabilities and Stockholders Equity Current liabilities $305,000 $350,000 Long-term liabilities 400,000 500,000 Capital stock and retained earnings 705,000 902,000 Total liabilities and stockholders' equity $1,410,000 $1,752,000 Annual sales $930,000 $1,500,000 Rate of gross profit on sales 30 % 40 % Each of these companies has requested a loan of $50,000 for 6 months with no collateral offered. Because your bank has reached its quota for loans of this type, only one of these requests is to be granted. Compute the various ratios for each company. (Round answer to 2 decimal places, e.g. 2.25.) Toulouse Co. Lautrec Co. Current ratio : 1 Acid-test ratio Accounts receivable turnover times times Inventory turnover times times Cash to current liabilities : 1 Click if you would like to Show Work for this question: Open Show Work