Given the following:     Current Assets $ 18,000   Accounts Receivable $ 3,000   Current Liabilities $ 16,000   Inventory $ 2,000   Net Sales $ 41,000   Total Assets $ 29,000   Net Income $ 6,000      Find the following (round to the nearest hundredth if needed):   Current Ratio? Acid test quick ratio? Average days collection ? Asset turover ? Profit Margin on net sales?

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 6MCQ
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Given the following:
 

 
Current Assets $ 18,000  
Accounts Receivable $ 3,000  
Current Liabilities $ 16,000  
Inventory $ 2,000  
Net Sales $ 41,000  
Total Assets $ 29,000  
Net Income $ 6,000  
 

 Find the following (round to the nearest hundredth if needed):

 

Current Ratio?

Acid test quick ratio?

Average days collection ?

Asset turover ?

Profit Margin on net sales?

 


 
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