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Please see below Grande CORPORATION Balance Sheets December 31 2019 2018 Cash $ 9,000 $ 8,000 Accounts receivable 38,000 35,000 Inventory 22,500 25,500 Land 15,000

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Grande CORPORATION Balance Sheets December 31 2019 2018 Cash $ 9,000 $ 8,000 Accounts receivable 38,000 35,000 Inventory 22,500 25,500 Land 15,000 15,000 Building 100,000 90,000Accumulated depreciation (26,000] (25,000] Total $150,500 $140,500 Accounts payable 5 46,000 $ 50,000 Common stock 62,000 60,000 Retained earnings 50,500 30,500 Total $150,500 $140,500 |I'Srande's 2019 income statement included net credit sales of $400,000, cost of goods sold of $110,000, and net income of $40,000. Instructions: Compute the following ratios for 2019. (a) Current ratio. (b) Acid-test ratio. (c) Receivables turnover. (d) Profit margin. (e) Return on assets. (Round ratios to 2 decimal places and percentages to 1 decimal place.)Compute: Acid-test ratio = Answer: Show calculations below: Receivables turnover = Prot margin = Return on assets =

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