Calculate the ratios below given the financial data presented to your left. Measures of Short-term Liquidity current assets/ current liabilities quick assets current liabilities net sales accounts receivable 365 days/receivables turnover rate cost of goods sold' inventory Measures of Long-term Credit Risk total liabilities total assets operating income annual interest expense Measures of Profitability net income sales net incomel total assets net income total equity Answers 2.46 0.77 20.67 17.66 current ratio quick ratio receivables turnover rate days to collect receivables inventory turnover rate debt ratio Times Interest Earned Profi Margin return on assets return on equity Fit to screen Financial data for Cartwright Timbers The Balance Sheet Account Current Asset Cash Accounts receivable Inventory Fixed Asset Property, plant and equipment Total Assets Current Liability Accounts payable Wages payable Long-term Liability Bonds payable Equity Common Stock Retained Earnings Total Liabilities + Equity The Income Statement Account Net sales Cost of goods sold gross profit Operating expenses operating income Interest expense Tax expense net income Total $2,000 3,000 11,000 $16,000 24,000 $18,000 ##### $4,000 2,500 $6,500 $10,000 10,000 5,500 23,500 ##### Amount $62,000 40,000 22,000 14,000 8,000 800 1,800 $5,400