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Selected information from the comparative financial statements of Great Inc. for the year ended December 31, appears below: 2021 2020 Accounts receivable $ 380,000 $
Selected information from the comparative financial statements of Great Inc. for the year ended December 31, appears below:
2021 | 2020 |
Accounts receivable | $ 380,000 | $ 320,000 |
Inventory | 130,000 | 145,000 |
Total assets | 1,800,000 | 1,650,000 |
Current liabilities | 196,000 | 105,000 |
Non-current liabilities | 400,000 | 322,000 |
Net credit sales | 1,900,000 | 1,250,000 |
Cost of goods sold | 700,000 | 619,000 |
Interest expense | 75,000 | 30,000 |
Income tax expense | 60,000 | 44,000 |
Profit | 210,000 | 97,000 |
Instructions Answer the following questions relating to the year ended December 31, 2021. Show calculations.
a) | The inventory turnover for 2021 is ________. |
b) | The interest coverage in 2021 is ________. |
c) | The debt to total assets for 2021 is ________. |
d) | The receivables turnover for 2021 is ________. |
e) | The return on assets for 2021 is ________ |
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