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Selected information from the comparative financial statements of Fava Company for the year ended December 31, appears below: Accounts receivable (net) Inventory Total assets Current
Selected information from the comparative financial statements of Fava Company for the year ended December 31, appears below: Accounts receivable (net) Inventory Total assets Current liabilities Long-term debt Net credit sales Cost of goods sold Interest expense Income tax expense Net income 2020 $180,000 140,000 1,200,000 140,000 400,000 1,330,000 900,000 50,000 60,000 150,000 2019 $200,000 160,000 800,000 110,000 300,000 700,000 530,000 25,000 29,000 85,000 Answer the following questions relating to the year ended December 31, 2020. (Round Times interest eamed answer to 1 decimal place, eg. 52.7.) 1. times 2. Inventory turnover for 2020 is Times interest earned in 2020 is The debt to assets ratio for 2020 is times 3. %% Accounts receivable turnover for 2020 is times 5. Return on assets for 2020 is
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