Summary information from the financial statements of two companies competing in the same industry follows.

Fender

CompanyGibson

CompanyFender

CompanyGibson

CompanyData from the current year-end balance sheetsData from the current year's income statementAssetsSales$810,000$896,200Cash$21,000$33,000Cost of goods sold587,100648,500Accounts receivable, net38,40053,400Interest expense8,40019,000Current notes receivable (trade)9,4007,600Income tax expense15,56924,741Merchandise inventory84,540130,500Net income198,931203,959Prepaid expenses5,8006,900Basic earnings per share5.534.95Plant assets, net300,000303,400Cash dividends per share3.713.92Total assets$459,140$534,800Beginning-of-year balance sheet dataLiabilities and EquityAccounts receivable, net$26,800$53,200Current liabilities$67,340$103,300Current notes receivable (trade)00Long-term notes payable81,800111,000Merchandise inventory57,600111,400Common stock, $5 par value180,000206,000Total assets428,000382,500Retained earnings130,000114,500Common stock, $5 par value180,000206,000Total liabilities and equity$459,140$534,800Retained earnings64,62972,045

1.

value:

20.00 points

Required information

Required:

1.1For both companies compute the (a) current ratio, (b) acid-test ratio, (c) accounts (including notes) receivable turnover, (d) inventory turnover, (e) days' sales in inventory, and (f) days' sales uncollected.(Do not round intermediate calculations.)