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Oriole Companys condensed financial statements provide the following information. ORIOLE COMPANY BALANCE SHEET Dec. 31, 2020 Dec. 31, 2019 Cash $ 51,800 $ 60,000 Accounts

Oriole Companys condensed financial statements provide the following information.

ORIOLE COMPANY BALANCE SHEET

Dec. 31, 2020

Dec. 31, 2019

Cash $ 51,800 $ 60,000
Accounts receivable (net) 199,200 79,400
Short-term investments 79,400 40,000
Inventory 441,500 358,000
Prepaid expenses 3,100 7,100
Total current assets $ 775,000 $ 544,500
Property, plant, and equipment (net) 857,700 848,300
Total assets $1,632,700 $1,392,800
Current liabilities 250,200 154,900
Bonds payable 402,000 402,000
Common stockholders equity 980,500 835,900
Total liabilities and stockholders equity $1,632,700 $1,392,800

INCOME STATEMENT FOR THE YEAR ENDED 2020

Sales $1,638,100
Cost of goods sold (798,700 )
Gross profit 839,400
Selling and administrative expenses (443,500 )
Interest expense (39,800 )
Net income $ 356,100

(a) Determine the following for 2020. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.)

(1) Current ratio at December 31 times
(2) Acid-test ratio at December 31 times
(3) Accounts receivable turnover times
(4) Inventory turnover times
(5) Return on assets %
(6) Profit margin on sales %

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