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Use the information from the balance sheet and income statement in the popup? window, LOADING...?, to calculate the following? ratios: a. Current ratio b.? Acid-test

Use the information from the balance sheet and income statement in the popup? window, LOADING...?, to calculate the following? ratios: a. Current ratio b.? Acid-test ratio c. Times interest earned d. Inventory turnover e. Total asset turnover f. Operating profit margin g. Days in receivables h. Operating return on assets i. Debt ratio j. Fixed asset turnover k. Return on equity Balance Sheet ASSETS Cash $90,000 Accounts receivable 33,000 Inventory 48,000 Prepaid expenses 18,000 Total current assets $189,000 Gross plant and equipment 400,000 Accumulated depreciation (67,000) Total assets $522,000 LIABILITIES AND OWNERS' EQUITY Accounts payable $88,000 Accrued liabilities 60,000 Total current liabilities $148,000 Long-term debt 121,000 Common stock 206,000 Retained earnings 47,000 Total liabilities and equity $52,000 Income Statement Sales* $212,000 Cost of goods sold (86,000) Gross profit $126,000 Selling, general, and administrative expenses (25,000) Depreciation expenses (27,000) Operating income $74,000 Interest expense (9,000) Earnings before taxes $65,000 Taxes (13650) Earnings available to common shareholders $51350 * 12% of sales are cash sales.

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