Financial Data for Springfield Power Co. as of December 31, 2004: Inventory $200,000 Long-term debt $300,000 Interest
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Financial Data for Springfield Power Co. as of December 31, 2004:
Inventory | $200,000 |
Long-term debt | $300,000 |
Interest expense | $15,000 |
Accumulated depreciated | $440,000 |
Cash | $260,000 |
Net sales (all credit) | $1,500,000 |
Common stock | $800,000 |
Accounts receivables | $225,000 |
Operating expenses (include depreciation expense and taxes) | $525,000 |
Notes payables-current | $180,000 |
Cost of goods sold | $940,000 |
Plant and equipment | $1,300,000 |
Accounts payable | $160,000 |
Marketable securities | $90,000 |
Accrued wages | $65,000 |
Retained earnings | $130,000 |
From the information above, calculate the following ratios for Springfield Power Co.
1. Current ratio
2. Acid test ratio
3. Average collection period
4. inventory turnover
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