COMPUTE THE FOLLOWING RATIOS (ON THE TABLE) FOR THE COMPARATIVE PERIODS. THE COMPANY USES 365 DAYS IN ITS COMPUTATION FOR SOME OF THE RATIOS. SHOW YOUR SOLUTION. !!

PLEASE MAKE YOUR ANSWERS CLEAR AND READABLE !!

PLEASE MAKE YOUR ANSWERS CLEAR AND READABLE !!

PLEASE MAKE YOUR ANSWERS CLEAR AND READABLE !!

PLEASE MAKE YOUR ANSWERS CLEAR AND READABLE !!

48.6. Solving the Problem Merchandise for the year 2018 and 2019: Presented below is the Comparative Financial Statements of Tan General TAN GENERAL MERCHANDISE Comparative Statement of Financial Position For the Year 2018 & 2019 2018 2019 ASSETS Cash Accounts Receivable Inventory Prepaid Rent Total Current Assets 87,400.00 69,920.00 218,500.00 4.370.00 380,190.00 110,000.00 90,000.00 129,000.00 12.000.00 341,000.00 Land Building Total Noncurrent Assets 493,810.00 500,000.00 993,810.00 550,000.00 600 000.00 1.150,000.00 1,491,000.00 TOTAL ASSETS LIABILITIES Accounts Payable Notes payable Total Current Liabilities 1,374,000.00 OIL 250,000.00 so150,000.00 400,000.00 200,000.00 300,000.00 500,000.00 Mortgage Payable Loan Payable Total Noncurrent Liabilities 160,000.00 150,000.00 310,000.00 180,000.00 200,000.00 380,000.00 710,000.00 880,000.00 TOTAL LIABILITIES OWNER'S EQUITY Tan, Capital Total Liabilities & Owner's Equity 664,000.00 1,374,000.00 611,000.00 1,491,000.00 in its computation for some of the ratios. Show your solution 3. Compute the following ratios for the comparative periods. The company used 365 days a. Working Capital b. Current Ratio c. Acid Test Ratio d. Accounts Receivable Turnover Ratio e. Average Collection Period f. Inventory Turnover Ratio 9. Average Days in Inventory h. Number of days in Operating Cycle 48.6. Solving the Problem Merchandise for the year 2018 and 2019: Presented below is the Comparative Financial Statements of Tan General TAN GENERAL MERCHANDISE Comparative Statement of Financial Position For the Year 2018 & 2019 2018 2019 ASSETS Cash Accounts Receivable Inventory Prepaid Rent Total Current Assets 87,400.00 69,920.00 218,500.00 4.370.00 380,190.00 110,000.00 90,000.00 129,000.00 12.000.00 341,000.00 Land Building Total Noncurrent Assets 493,810.00 500,000.00 993,810.00 550,000.00 600 000.00 1.150,000.00 1,491,000.00 TOTAL ASSETS LIABILITIES Accounts Payable Notes payable Total Current Liabilities 1,374,000.00 OIL 250,000.00 so150,000.00 400,000.00 200,000.00 300,000.00 500,000.00 Mortgage Payable Loan Payable Total Noncurrent Liabilities 160,000.00 150,000.00 310,000.00 180,000.00 200,000.00 380,000.00 710,000.00 880,000.00 TOTAL LIABILITIES OWNER'S EQUITY Tan, Capital Total Liabilities & Owner's Equity 664,000.00 1,374,000.00 611,000.00 1,491,000.00 in its computation for some of the ratios. Show your solution 3. Compute the following ratios for the comparative periods. The company used 365 days a. Working Capital b. Current Ratio c. Acid Test Ratio d. Accounts Receivable Turnover Ratio e. Average Collection Period f. Inventory Turnover Ratio 9. Average Days in Inventory h. Number of days in Operating Cycle