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We are given the following information for the Pettit Corporation. Sales (credit) $ 2,510,000 Cash 228,000 Inventory 935,000 Current liabilities 779,000 Asset turnover 1.05 times
We are given the following information for the Pettit Corporation.
| Sales (credit) | $ | 2,510,000 | |
| Cash | 228,000 | ||
| Inventory | 935,000 | ||
| Current liabilities | 779,000 | ||
| Asset turnover | 1.05 | times | |
| Current ratio | 2.80 | times | |
| Debt-to-assets ratio | 40 | % | |
| Receivables turnover | 5 | times | |
Current assets are composed of cash, marketable securities, accounts receivable, and inventory.
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Public Finance A Contemporary Application Of Theory To Policy
Authors: David N Hyman
12th Edition
0357442156, 978-0357442159
