QUESTION Selected information from the comparative financial statements of Fava Company for the year ended December 31, appears below 2020 2019 Accounts receivable (net) $ 180,000 $200,000 Inventory 140,000 160,000 Total assets 1,200,000 800,000 Current liabilities 140,000 110,000 Long-term debt 400,000 300,000 Net credit sales 1,330,000 700,000 Cost of goods sold 900,000 530,000 Interest expense 50,000 25,000 Income tax expense 60,000 29,000 Net income 150,000 85,000 Instructions Answer the following questions relating to the year ended December 31, 2020. Show computations. 1. Inventory turnover for 2020 is (2 points) 2. Times interest earned in 2020 is (2 points) 3. The debt to assets ratio for 2020 is (2 points) 4. Accounts receivable tumover for 2020 is (2 points) 5. Return on assets for 2020 is (2 points) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B IV. Paragraph Arial 14px TY 111 > A