Question
The 5 ratio problems use the data below. 1. What is the current ratio as of December 31, 2020? Answer to the nearest decimal point
The 5 ratio problems use the data below.
1. What is the current ratio as of December 31, 2020? Answer to the nearest decimal point (for example, 120.5).
2. What is the Accounts Receivable Turnover ratio as of December 31, 2020? Answer to the nearest decimal point (for example, 120.5).
3. What is the Days' Sales Uncollected (in days) as of December 31, 2020? Answer to the nearest decimal point (for example, 120.5).
4. What is the Inventory Turnover ratio as of December 31, 2020? Answer to the nearest decimal point (for example, 120.5).
5. What is the number of Days' Sales in Inventory as of December 31, 2020? Answer to the nearest decimal point (for example, 120.5).
Balance as Of December 31st | 12/31/2020 | 12/31/2019 |
Cash | $ 200 | $ 600 |
Accounts Receivable | 1,000 | 800 |
Inventory | 2,000 | 1,600 |
Total Current Assets | 3,200 | 3,000 |
Other Assets | 600 | 400 |
Total Assets | $ 3,800 | $ 3,400 |
Current Liabilities | $ 1,600 | $ 2,200 |
Other Liabilities | 1,200 | 200 |
Total Liabilities | 2,800 | 2,400 |
Stockholders' Equity | 1,000 | 1,000 |
Total Liabilities and S/H Equity | $ 3,800 | $ 3,400 |
12/31/2020 | ||
Net Sales | $ 4,500 | |
Cost of Goods Sold | 3,600 | |
Gross Profit | 900 | |
Selling, General & Admin. Expenses | 300 | |
Net Income | $ 600 |
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