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The following information was taken from the accounting records for Aurora Manufacturing, Inc.: Year 5 Unaudited Year 4 Audited Year 3 Audited Year 2 Audited
The following information was taken from the accounting records for Aurora Manufacturing, Inc.: Year 5 Unaudited Year 4 Audited Year 3 Audited Year 2 Audited Year 1 Audited Inventory $525,000 $460,000 $390,000 $310,000 $225,000 Current assets 1,350,000 1,175,000 950,000 750,000 600,000 Accounts payable 115,000 113,000 97,500 85,000 70,000 Current liabilities 545,000 535,000 440,000 380,000 320,000 Sales 2,700,000 2,050,000 1,750,000 1,400,000 1,200,000 Cost of goods sold 1,650,000 1,225,000 1,025,000 850,000 725,000 Industry Median Accounts payable turnover days 31 30 29 30 Cost of goods sold to average accounts payable 10.7 11.2 10.9 11.1 Current ratio 1.9 2.2 2.3 2.1 Calculate the following information and ratios for years 2, 3, 4, and 5: (Round Purchases to O decimal places, e.g. 15 and Current Ratio to 2 decimal places, e.g. 15.25 and other answers to 1 decimal place, e.g. 15.2.) Year 5 Unaudited Year 4 Audited Purchases $ $ Accounts Payable Turnover in Days days days Cost of Goods Sold to Average Accounts Payable Current Ratio
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