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please answer #2 and 3 Precision Tool 2009 Income Statement $36,408 28,225 1.760 6,423 Net sales Less: Cost of goods sold Less: Depreciation Earnings before

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Precision Tool 2009 Income Statement $36,408 28,225 1.760 6,423 Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income $5,913 2,070 $3,843 Precision Tool 2008 and 2009 Balance Sheets 2008 2009 $7,250 $8,384 9,800 11,500 15,000 17,500 2008 2009 Cash $2,060 $1,003 Accounts payable Accounts rec. 3,411 4,218 Long-term debt Inventory 18,776 21908 Common stock Total $24,247 $27,129 Retained earning 6,357 Net fixed assets 14,160 14.080 Total assets $38.407 $41209 Total liab & equity $3840 $41209 2. What is the net working capital to total assets ratio for 2008? A. 34.18 percent B. 44.25 percent C. 47.49 percent D. 51.47 percent E. 65.83 percent 3. How many days on average does it take Precision Tool to sell its inventory? A. 164.30 days B. 187.77 days C. 219.63 days D. 247.46 days E. 283.31 days

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