Use balance sheet and profit and loss statement to fill in the green blanks.

Question:

Now that we have determined there might be an operational issue, efficiency ratios should be used to further drill down into the data. Use the Associated Industries Balance sheet and Profit and Loss to calculate the efficiency ratios and working capital for 2016 and 2017. (Make sure to label all your answers appropriately.)

Associated Industries
		2016	2017
Data
Inventory		$54,000	$111,500
Accounts Receivable		$132,750	$151,750
Accounts Payable		$40,500	$77,580
Revenue		$375,000	$386,250
Cost of Goods Sold		$211,056	$217,388
Current Assets		$227,250	$275,902
Current Liabilities		$40,500	$77,580
Total Assets		$270,000	$316,402
Revenue per Day
Cost of Goods Sold Per day
Efficiency Ratios
Days in Inventory
Collection Period
Payment Period
Cash Conversion Cycle
Inventory Turnover Ratio
Asset Turnover Ratio
Working Capital

Associated Industries Balance Sheet Change 2016 2017 $57,500 $19,000 Assets Current Assets Cash Inventory Accounts Receivable Total Current Assets Plant, Property and Equipment Less: Accumulated Depreciation Total Plant, Property and Equipment Total Assets $40,500 $12,652 $54,000 $111,500 $132,750 $151,750 $227,250 $275,902 $45,000 $45,000 ($2,250) ($4,500) $42,750 $40,500 $270,000 $316,402 $0 $2,250 -$37,080 $40,500 $40,500 $77,580 $77,580 $0 Liabilities and Owners' Equity Liabilities Current Liabilities Accounts Payable Total Current Liabilities Long-Term Liabilities Bank Loan Payable Total Long-Term Liabilities Total Liabilities Owners' Equity Owners' Investment Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity $135,000 $135,000 $135,000 $135,000 $175,500 $212,580 $0 $9,322 $90,000 $90,000 $4,500 $13,822 $94,500 $103,822 $270,000 $316,402 Associated Industries Profit and Loss Statement 2016 2017 $375,000 $211,056 $163,944 $386,250 $217,388 $168,862 $15,000 $75,000 $20,000 $77,250 Sales Activities Revenue Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Advertising Sales Staff Salary General and Administrative Rent Utilities Owners' Salary Accounting, Payroll and Legal Depreciation Operating Profit Interest Profit Before Taxes Income Taxes Net Profit $22,500 $11,250 $15,750 $7,500 $2,250 $14,694 $0 $14,694 $3,086 $11,608 $22,500 $11,588 $15,750 $7,725 $2,250 $11,800 $0 $11,800 $2,478 $9,322