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The 2021 income statement of Anderson Medical Supply Company reported net sales of $9 million, cost of goods sold of $5.9 million, and net income
The 2021 income statement of Anderson Medical Supply Company reported net sales of $9 million, cost of goods sold of $5.9 million, and net income of $855,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 $ 520 920 1,450 3,500 $ 6,390 $ 600 610 860 3,220 $ 5,290 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 $ 1,180 1,750 2,100 1,360 $ 6,390 $ 1,050 1,750 2,100 390 $ 5,290 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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