The following information is taken from Randy Technologys statements of financial position at December 31, 2019 and 2020, and their income statement for calendar 2020:

2020 2019

Assets:

Cash .................................................. $ 38,000 $ 42,000

Short Term investments .................... 25,000 -0-

Accounts receivable .......................... 118,000 22,000

Inventory ........................................... 151,000 42,000

Prepaid insurance .............................. 16,000 19,000

Long-term investments ..................... 49,000 20,000

Equipment (net) ................................ 130,000 130,000

Land .................................................. 33,000 33,000

Goodwill ........................................... 45,000 45,000

Total assets ........................................ $ 605,000 $ 353,000

Net income ............................................... $ 52,250

Sales (all on credit) .................................. 295,000

Cost of goods sold .................................... 123,000.

Interest expense ........................................ 15,600

Income tax expense .................................. 17,450

Tax rate = 26%

Required: From the above information, calculate the following ratios for 2020:

Ratio Amount

1.Inventory turnover

2.Accounts receivable turnover

3. Return on assets ratio

4.Gross profit percentage ratio