Corner Grocers reported the following for its two most recent fiscal years: Calculate the following for the

Question:

Corner Grocers reported the following for its two most recent fiscal years:

Calculate the following for the year ended December 31, 2012:
1. Current ratio
2. Accounts receivable turnover ratio
3. Inventory turnover ratio
4. Return on assets
5. Return onequity

Inventory Turnover Ratio
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...