Refer to the data in Exercise 14.15. Calculate the following financial ratios for 2021 and 2020 and compare results:      

Require

a. Asset turnover.      

b. Accounts receivable turnover.      

c. Days’ sales in receivables.      

d. Inventory turnover.      

e. Days’ sales in inventory. 

Comment on the results.

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Rahul Corporation Comparative Balance Sheet For the Years Ended December 31, 2021, and 2020 (in thousands) 2021 2020 Assets Current assets: Cash $ 2,200 $ 2,470 10,870 13,860 Accounts receivable net 7,725 Inventory Prepaid expenses 12,155 820 620 Total current assets 27,750 22,970 Property and equipment: Land 11,000 11,000 Buildings and equipment, net Total property and equipment 40,400 42,400 51,400 53,400 Total assets $79,150 $76,370 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued expenses Notes payable, short term $20,600 $18,650 780 640 210 Total current liabilities 21,380 19,500 Long-term liabilities: Bonds payable 11,000 11,000 Total liabilities 32,380 30,500 Stockholders' equity: Common stock 13,650 13,650 Retained earnings 33,120 32,220 Total stockholders' equity 46,770 45,870 Total liabilities and stockholders' equity $79,150 $76,370