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Monty Company has been operating for several years, and on December 31, 2020, presented the following balance sheet. MONTY COMPANY BALANCE SHEET DECEMBER 31, 2020

Monty Company has been operating for several years, and on December 31, 2020, presented the following balance sheet.

MONTY COMPANY BALANCE SHEET DECEMBER 31, 2020

Cash

$43,500

Accounts payable

$82,800

Receivables

70,300

Mortgage payable

136,200

Inventory

103,400

Common stock ($1 par)

145,300

Plant assets (net)

227,900

Retained earnings

80,800
$445,100 $445,100

The net income for 2020 was $24,200. Assume that total assets are the same in 2019 and 2020. (a) Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.)

(a)

Current ratio

enter the Current ratio rounded to 2 decimal places
(b)

Acid-test ratio

enter the Acid-test ratio rounded to 2 decimal places
(c)

Debt to assets ratio

enter the Debt to assets ratio in percentages rounded to 2 decimal places %
(d)

Return on assets

enter the Return on assets in percentages rounded to 2 decimal places

%

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