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The 2024 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6.8 million, and net
The 2024 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6.8 million, and net income of $900,000. The following table shows the company's comparative balance sheets for 2024 and 2023: ($ in thousands) Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets 2024 2023 $ 700 $ 780 1,100 1,400 700 4,400 $ 7,600 Liabilities and shareholders' equity Current liabilities Bonds payable Common stock $ 1,360 2,200 3,000 1,310 4,120 $ 6,910 $ 1,230 2,200 3,000 Retained earnings 1,040 480 Total liabilities and shareholders' equity $ 7,600 $ 6,910 Required: 1. Calculate Anderson's turnover ratios for 2024. Note: 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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