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The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut Balance Sheet As at September 30 2018 2017 ASSETS

The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut Balance Sheet As at September 30 2018 2017 ASSETS Current Assets Cash $187,769 $62,700 Accounts receivable $23,700 $16,500 Merchandise Inventory $22,400 $29,100 Total Current Assets $233,869 $108,300 Property, plant & equipment $135,000 $185,000 Less: Accumulated depreciation $-27,400 $-21,500 TOTAL ASSETS $341,469 $271,800 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable $30,400 $36,900 Notes Payable - Current Portion $9,800 $9,800 Total Current Liabilities $40,200 $46,700 Notes Payable - Noncurrent Portion $89,000 $45,000 TOTAL LIABILITIES $129,200 $91,700 Stockholders' Equity Common stock $66,000 $54,000 Retained earnings $146,269 $126,100 TOTAL STOCKHOLDERS' EQUITY $212,269 $180,100 TOTAL LIABILITIES AND EQUITY $341,469 $271,800 Joe's Fish Hut Income Statement For the Year Ended September 30, 2018 Sales $140,000 COGS $89,200 Gross Profit $50,800 Operating Expenses Insurance Expense $1,480 Rent Expense $5,770 Salaries Expense $4,590 Telephone Expense $780 Interest Expense $1,250 Depreciation Expense $5,900 Total Operating Expenses $19,770 Operating Profit Before Tax $31,030 Income Tax Expense $10,861 Net Profit (Loss) $20,169 Complete the following ratio analysis. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. a) Calculate the days sales outstanding ratio for 2018. Assume all sales are credit sales. Days sales outstanding: Answer days b) Calculate the accounts receivable turnover for 2018. Assume all sales are credit sales Accounts Receivable turnover: Answer times c) Calculate the days' sales in inventory ratio for 2018. Days' Sales in Inventory: Answer days d) Calculate the inventory turnover for 2018. Inventory turnover: Answer times

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