Monroe Manufacturing has a quick ratio of 2.00x,$34,875 in cash, $19,375 in accounts receivable, some inventory, total current assets of $77,500, and total current liabilities of $27,125. The company reported annual sales of $800,000 in the most recent annual report. Additionally, the company's cost of goods sold is 75% of sales. Over the past year, how often did Monroe Manufacturing sell and replace its inventory? 28.39x2.86x8.01x25.81x The inventory turnover ratio across companies in the manufacturing industry is 28.391x. Based on this information, which of the following statements is true for Monroe Manufacturing? Monroe Manufacturing is holding more inventory per dollar of sales compared with the industry average. Monroe Manufacturing is holding less inventory per dollar of sales compared with the industry average. You are analyzing two companies that manufacture electronic toys-Like Games Inc. and Our Play Inc. Like Games was launched eight years ago, share with sales of $800,000 each. You've collected company data to compare Like Games and Our Play. Last year, the average sall industry competitors was $2,040,000. As an analyst, you want to make comments on the expected performance of these two companies in the coming year. You've collected data from the companies' financial statements. This information is listed as follows: (Note: Assume there are 365 days in a year.) Using this information, complete the following statements to include in your analysis. 1. Our Play has days of sales tied up in receivables, which is much than the industry average. It takes Our Play time to collect cash from its customers than it takes Like Games. 2. Like Games's fixed assets turnover ratio is than that of Our Play. This is because Like Games was formed eight years ago, so the acquisition cost of its fixed assets is recorded at historic values when the company bought its assets and has been depreciated since then. Assuming that fixed assets prices (not book values) rose over the past six years due to inflation, Our Play paid a assets. 3. The average total assets turnover in the electronic toys industry is every dollar of investment in assets. A total assets turnover ratio indicates greater efficiency. Both companies' total assets turnover ratios are than the industry average