M D E F G H 1 1 1 Selected information from the comparative financial statements of Patrick Parker Inc. for the year ended December 31, appears below. 2 2021 2020 3 Accounts receivable $380,000 $320,000 4 Inventory 130,000 145,000 5 Total assets 1,800,000 1,650,000 6 Current liabilities 196,000 105,000 7 Non current liabilities 400,000 322,000 8 Net credit sales 1,900,000 1,250,000 3 Cost of goods sold 700,000 619,000 10 Interest expense 75,000 30,000 11 Income tax expense 60,000 44,000 12 Profit 210,000 97,000 B 14 Instructions 15 Answer the following questions relating to the year ended December 31, 2021. 6 a) The inventory tumover for 2021 is 7 b) The interest coverage in 2021 is 8 c) The debt to total assets for 2021 is 19 d) The receivables turnover for 2021 is 20 e) The return on assets for 2021 is 1 2 3 4 5 6 7 28