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The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $5.4 million, and net income
The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $5.4 million, and net income of $830,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 $ 420 820 1,200 3,000 $ 5,440 $ 500 560 1,000 2,720 $ 4,780 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity $ 1,080 1,500 1,600 1,260 $ 5,440 $ 950 1,500 1,600 730 $ 4,780 Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal places.) Inventory turnover ratio Receivables turnover ratio Average collection period Asset turnover ratio times times days times
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