Items 41-50 is based on the following:

2020 2021

A/R, net P 40,000 P 45,000

Inventory 40,000 50,000

Current Assets 120,000 140,000

Total Assets, net 700,000 750,000

Current Liabilities 70,000 50,000

Long-term Liabilities 250,000 300,000

Net Sales 550,000 500,000

Cash Sales 200,000 200,000

Cost of Sales 310,000 345,000

Required:

41-42. Current ratio for 2020 and 2021

43-44. Receivable turnover for 2020 and 2021

45-46. Inventory turnover for 2020 and 2021

47-48. Debt-to-equity ratio for 2020 and 2021

49-50. Working capital for 2020 and 2021

Formulas:

Current ratio= current assets/current liabilities

Receivable turnover= Credit Sales/Average Receivable

Inventory turnover= Cost of Sales/Average Inventory

Debt-to-equity= Debt/Equity

Working capital=current assets-current liabilities