Refer to the table below for the following questions:

Emery Corporation

Balance Sheet Income Statement

Assets:
Cash	$250,000		Sales (all credit)	$8,000,000
Accounts receivable	450,000		Cost of goods sold	(4,000,000)
Inventory	500,000		Operating expense	(2,900,000)
Net fixed assets	2,100,000		Interest expense	(150,000)
Total assets	$3,300,000		Income taxes	(380,000)
			Net income	$570,000
Liabilities and owners' equity:
Accounts payable	$100,000
Notes payable	450,000
Long-term debt	1,050,000
Owners' Equity	1,700,000
Total liabilities and owner's equity	$3,300,000

(Calculate the following ratios) What does the answer mean?

Current Ratio

Test Acid Ratio

ACP

Inventory turnover

Debt Ratio

Times Interest Earned