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QUESTION 2 Based on the following financial data answer the questions, SO Gross income 9,352 Total sales 8,461 Total credit sales 7,890 Net income 1503

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QUESTION 2 Based on the following financial data answer the questions, SO Gross income 9,352 Total sales 8,461 Total credit sales 7,890 Net income 1503 Cost of goods sold 6,491 Total assets 3,340 Average inventory 835 Average receivables 1169 Question 1: What is the receivable turnover ratio? Question 2. What is the inventory turnover ratio? Question 3: What is the asset turnover ratio? 'Record answers with two digits after the decimal point. (2 points) (2 points) (2 points)

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