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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 July 31 2021 2020 ASSETS

The balance sheet and income statement for Joe's Fish Hut are presented below:

Joe's Fish Hut Balance Sheet As at July 31
2021 2020
ASSETS
Current Assets
Cash $193,082 $65,400
Accounts receivable $20,900 $13,600
Merchandise Inventory $20,800 $25,500
Total Current Assets $234,782 $104,500
Property, plant & equipment $147,000 $188,000
Less: Accumulated depreciation $-27,900 $-24,000
TOTAL ASSETS $353,882 $268,500
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable $30,700 $34,800
Notes Payable - Current Portion $7,000 $7,000
Total Current Liabilities $37,700 $41,800
Notes Payable - Noncurrent Portion $88,000 $47,000
TOTAL LIABILITIES $125,700 $88,800
Stockholders' Equity
Common stock $78,000 $54,900
Retained earnings $150,182 $124,800
TOTAL STOCKHOLDERS' EQUITY $228,182 $179,700
TOTAL LIABILITIES AND EQUITY $353,882 $268,500

Joe's Fish Hut Income Statement For the Year Ended July 31, 2021
Sales $140,000
COGS $84,200
Gross Profit $55,800
Operating Expenses
Insurance Expense $1,210
Rent Expense $4,720
Salaries Expense $4,590
Telephone Expense $860
Interest Expense $1,470
Depreciation Expense $3,900
Total Operating Expenses $16,750
Operating Profit Before Tax $39,050
Income Tax Expense $13,668
Net Profit (Loss) $25,382

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 2021. Assume all sales are credit sales. Days sales outstanding: Answer days b) Calculate the accounts receivable turnover for 2021. Assume all sales are credit sales Accounts Receivable turnover: Answer times c) Calculate the days' sales in inventory ratio for 2021. Days' Sales in Inventory: Answer days d) Calculate the inventory turnover for 2021. Inventory turnover: Answer ti

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