The following information relates to Harris Corporation.

Account

Current year

Prior year

Net sales (all credit)

$520,125

$499,500

Cost of goods sold

$375,960

$353,600

Gross profit

$144,165

$145,900

Income from operations

$ 95,500

$ 79,900

Interest expense

$ 23,500

$ 19,500

Net income

$ 57,600

$ 51,600

Cash

$ 30,600

$ 15,900

Accounts receivable, net

$ 33,800

$ 23,200

Inventory

$ 42,000

$ 30,300

Prepaid expenses

$ 2,000

$ 1,500

Total current assets

$ 108,400

$ 70,900

Total long-term assets

$ 62,000

$ 38,000

Total current liabilities

$ 46,000

$ 41,600

Total long-term liabilities

$ 20,000

$ 22,700

Common stock, no par,

3,000 shares, value $50/share

$ 30,000

$ 30,000

Questions:

a.What is the acid-test ratio for the current year?

b.What is the inventory turnover for the current year?

c.What is days' sales in receivables for the current year?

d.What is the book value per share of common stock for the current year?

e.What is the price-earnings ratio for the current year?

f.What is the rate of return on total assets for the current year?

g.What is the times-interest-earned ratio for the current year?

h.What is the current ratio for the current year?

The following information relates to Harris Corporation. Account Net sales (all credit) Cost of goods sold Gross profit Income from operations Interest expense Net income Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total long-term assets Total current liabilities Total long-term liabilities Common stock, no par, 3,000 shares, value $50/share Questions: a. What b. What c. What d. What e. What f. What g. What h. What is is is is is is is is Current year Prior year $520,125 $499,500 $375,960 $353,600 $144,165 $145,900 $ 95,500 $ 79,900 $ 23,500 $ 19,500 $ 57,600 $ 51,600 $ 30,600 $ 15,900 $ 33,800 $ 23,200 $ 42,000 $ 30,300 $ 2,000 $ 1,500 $ 108,400 $ 70,900 $ 62,000 $ 38,000 $ 46,000 $ 41,600 $ 20,000 $ 22,700 $ 30,000 $ 30,000 the acid-test ratio for the current year? the inventory turnover for the current year? days' sales in receivables for the current year? the book value per share of common stock for the current year? the price-earnings ratio for the current year? the rate of return on total assets for the current year? the times-interest-earned ratio for the current year? the current ratio for the current year