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Will rate you 5 Stars! please answer correctly though, it's review for final. Thank you! 27. The balance sheet at December 31, 2019 for Zumba

Will rate you 5 Stars! please answer correctly though, it's review for final. Thank you! image text in transcribed
27. The balance sheet at December 31, 2019 for Zumba Company follows: Current Assets: Cash and Cash Equivalents Accounts Receivable, net Inventories Prepaid Rent Total Current Assets Land, buildings and equipment, net Investments Total assets $2 4.800 2.200 898 $7.900 7,400 500 $15.800 Current Liabilities: Accounts Payable Current Portion Long-Term Debt Accrued Salaries Payable Total Current Liabilities Long-Term Debt Total Liabilities S500 2.500 1,000 4,000 8.000 12,000 Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 2,800 1.000 3,800 $15.800 Additional information follows: 1. Net income for the year ended December 31, 2019 is $2,020. 2. Cost of goods sold for the year ended December 31, 2019 is $4,400. 3. Inventory on January 1, 2019 is $1,800. 4. Accounts Receivable, net on January 1, 2019 are $4,400. 5. Total assets on January 1, 2019 are $20,000. 6. Net credit sales for the year ended December 31, 2019 are $14,600. 7. Net income before interest and taxes for the year ended December 31, 2019 is $4,800. 8. Interest expense for the year ended December 31, 2019 is $550. 9. Total stockholders' equity on January 1, 2019 is $3,500. Compute the following ratios: 1. Current ratio 2. Quick ratio 3. Accounts receivable turnover 4. Days' inventory outstanding 5. Times interest earned 6. Return on assets 7. Return on equity

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