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The following select information is taken from Blueberry Pie Corp.'s statements of financial position at December 31, 2019 and 2020, and their income statement for

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The following select information is taken from Blueberry Pie Corp.'s statements of financial position at December 31, 2019 and 2020, and their income statement for calendar 2020: 2020 2019 Assets: Cash $ 18,000 $ 22,000 Short Term investments. 25,000 -0- Accounts receivable 38,000 42,000 Inventory 61,000 52,000 Prepaid insurance 6,000 9,000 Long-term investments 49,000 20.000 Equipment (net) 130,000 130,000 Land 33,000 33.000 Goodwill 55.000 55.000 Total assets. $ 415,000 $363,000 Net income $ 62,250 Sales (all on credit) 305,000 Cost of goods sold. 123,000 Interest expense. 15,600 Income tax expense. 17,450 Tax rate = 28% Instructions From the above information calculate the following ratios for2020, rounding to 1 decimal place (2 marks each): Ratio Amount 1. Inventory tumover 2. Accounts receivable turnover 3. Retun on assets ratio 4.Gross profit percentage ratio

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