Based on the financial statements for Jackson Enterprises (income statement, statement of owner's equity, and balance sheet) shown on the next pages, prepare the following financial ratios. All sales are credit sales. The Accounts Receivable balance on January 1, 20--, was $21,600.

1. Working capital

2. Current ratio

3. Quick ratio

4. Return on owner's equity

5. Accounts receivable turnover and average number of days required to collect receivables

6. Inventory turnover and average number of days required to sellinventory

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Jackson Enterprises Balance Sheet December 31, 20 - Assets Current assets: $20 800 00 18 9 00 00 28 17 7 00 13 2 3 00 9 0 0 00 Cash Accounts feceivable Merchandise inventoly Supplies Prepaid insufance $ 70 100 00 Total culfent assets Property, plant, and equipment: $90 0 00 00 28 000 00 $33 000 00 75 00 00 Building $62 0 0 0 00 Less accumulated depreciation-building Equipment 25 50 0 00 Less accumulated depreciation-equipment 87 500 00 $157 6 00 Total property, plant, and equipment Total assets 00 Liabilities Curfent liabilities: Accounts payable $12 600 00 500 00 12 00 00 8 0 0 00 Wages payable Sales tax payable Moftgage payable (culfent poftion) $15 100 00 Total curfent liabilities Long-term liabilities: Mortgage payable $39 100 00 800 00 38 300 00 Less culfent poftion $ 53 400 00 Total liabilities Owner's Equity 104 200 00 $157 6 00 00 J. B. Gray, capital Total liabilities and owner's equity