Revise your worksheet to reflect these updated assumptions and then answer the questions that follow.

	Current	Previous
Cash	$78,000	$68,000
Accounts receivable	48,000	53,000
Inventory	108,000	88,000
Long-term assets	256,600	163,000
Total assets	$490,600	$372,000

	Current	Previous
Current liabilities	$88,000	$78,000
Long-term liabilities	136,000	126,000
Total liabilities	224,000	204,000
Stockholders equity	266,600	168,000
Total liabilities and stockholders equity	$490,600	$372,000

	Current
Net sales	$440,000
Cost of goods sold	235,000
Operating expenses	68,000
Interest expense	12,800
Income tax expense	25,600
Net income	$98,600

Required: 1. Use your spreadsheet to recalculate the ratios and enter your results here: (Round your answers to 2 decimal places.)

Ratio
Receivables turnover ratio		times
Average collection period		days
Inventory turnover ratio		times
Average days in inventory		days
Current ratio		to 1
Acid-test ratio		to 1
Debt to equity ratio		%
Times interest earned ratio		times