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The financial statements of Susans Natural Food include the following items: Details Current Year ($) Preceding year ($) Cash 15000 20000 Short term investments 11000
The financial statements of Susans Natural Food include the following items:
Details | Current Year ($) | Preceding year ($) |
Cash | 15000 | 20000 |
Short term investments | 11000 | 27000 |
Accounts receivables | 54000 | 73000 |
Inventory | 77000 | 69000 |
Prepaid expenses | 15000 | 9000 |
Total current assets | 172000 | 198000 |
Income statement: |
|
|
Net credit sales | 462000 |
|
Cost of sales | 315000 |
|
Note: Current liability $133000 for current year. |
Required:
Calculate the following ratios for the current year:
- Current ratio
- Acid test ratio
- Inventory turnover
- Days in inventory
- Days sales in accounts receivables
- Gross profit margin
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