Question: Financial statements for Askew Industries for 2016 are shown below (in $000?s): 2016 Income Statement Sales $ 9,000 Cost of goods sold (6,300 ) Gross

Financial statements for Askew Industries for 2016 are shown below (in $000?s):

2016 Income Statement
Sales$9,000
Cost of goods sold(6,300)
Gross profit2,700
Operating expenses(2,000)
Interest expense(200)
Tax expense(200)
Net income$300

Comparative Balance Sheets
Dec. 31
20162015
Assets
Cash$600$500
Accounts receivable600400
Inventory800600
Property, plant, and equipment (net)2,0002,100
$4,000$3,600
Liabilities and Shareholders? Equity
Current liabilities$1,100$850
Bonds payable1,4001,400
Paid-in capital600600
Retained earnings900750
$4,000$3,600

Required:

Calculate the following ratios for 2016.(Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.)

Financial statements for Askew Industries for 2016 are shown below (in $000?s):2016

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