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What's the current ratio, total asset turnover ratio, net profit ratio for 2020 Transactions during 2020 follow: a. Borrowed $24,000 cash on a 5-year, 10

What's the current ratio, total asset turnover ratio, net profit ratio for 2020

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Transactions during 2020 follow: a. Borrowed $24,000 cash on a 5-year, 10 percent note payable, dated March 1, 2020. b. Purchased land for a future building site; paid cash, $19,000. c. Earned $308,000 in revenues for 2020, including $65,000 on credit and the rest in cash. d. Sold 4,000 additional shares of capital stock for cash at $1 market value per share on January 1, 2020. e. Incurred $105,000 in wages expense and $41,000 in miscellaneous expenses for 2020, with $36,000 on credit and the rest paid in cash. f. Collected accounts receivable, $40,000. g. Purchased other assets, $14,000 cash. h. Purchased supplies on account for future use, $39,000. i. Paid accounts payable, $38,000. j. Signed a three-year $45,000 service contract to start February 1, 2021. k. Declared cash dividends on December 1, $20,000, which were paid by December 31. Data for adjusting entries: 1. Supplies counted on December 31, 2020, $30,000. m. Depreciation for the year on the equipment, $15,000. n. Interest accrued on notes payable (to be computed). o. Wages earned by employees since the December 24 payroll but not yet paid, $17,000. p. Income tax expense, $14,000, payable in 2021

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