show steps

Presented below is information related to Oriole Inci $110,500 15,000 Cash Receivables Less: Allowance Inventory Prepaid insurance Land Equipment (net) ORIOLE INC. BALANCE SHEET DECEMBER 31, 2020 $44,900 Notes payable (short-term) Accounts payable 95,500 Accrued liabilities 171,600 Common stock (par $5) 7,900 Retained earnings 20,100 150,200 $490,200 $50,400 32,300 5,100 258.700 143,700 $490,200 ORIOLE INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $1,413,100 Cost of goods sold Inventory, Jan 1, 2020 $198.400 Purchases 796,600 Cost of goods available for sale 995,000 Inventory, Dec. 31, 2020 (171,600) Cost of goods sold 823,400 Gross profit on sales 589,700 Operating expenses 171,500 Net income $418,200 (a) Compute the following ratios or relationships of Oriole Inc. Assume that the ending account balances are representative unless the information provided indicates differently Round answers to 2 decimal places, eg. 1.59 or 45.82%) Current ratio times (2) Inventory turnover times (3) Accounts receivable turnover times (4) Earnings per share (5) Profit margin on sales (6) Return on assets on December 31, 2020