Question: Bella Company has the following comparative balance sheet data. Additional information for 2013:1. Net income was $25,000.2. Sales on account were $410,000. Sales returns and

Bella Company has the following comparative balance sheet data.

Additional information for 2013:1. Net income was $25,000.2. Sales on account were $410,000. Sales returns and allowances were $20,000.3. Cost of goods sold was $198,000.InstructionsCompute the following ratios at December 31, 2013.(a) Current.(b) Acid-test.(c) Receivables turnover.(d) Inventoryturnover.

BELLA COMPANY Balance Sheets December 31 2013 2012 $ 15,000 70,000 60,000 $ 30.000 Cash Receivables (net) Inventory Plant assets (net) 60.000 50,000 200,000 180.000 $320.000 $345,000 $50,000 Accounts payable Mortgage payable (15%) Common stock. $10 par Retained earnings $60.000 100.000 100,000 140,000 120.000 55,000 40.000 $320.000 $345,000

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