Question: Problem 1-9 Consider the following financial data from the past year for Midwest Outdoor Equipment Corporation. Gross income Total sales Total credit sales Net

Problem 1-9 Consider the following financial data from the past year for

Problem 1-9 Consider the following financial data from the past year for Midwest Outdoor Equipment Corporation. Gross income Total sales Total credit sales Net income Cost of goods sold Total assets Average inventory Average receivables $32,213,000 31,044,000 ratio 21,777,000 3,797,000 16,082,000 11,648,000 3,849,000 3,804,000 a. Compute the receivable turnover ratio. (Round your answer to 3 decimal places.) Receivable turnover b. Compute the inventory turnover ratio. (Round your answer to 3 decimal places.) Inventory turnover ratio c. Compute the asset turnover ratio. (Round your answer to 3 decimal places.) Asset turnover ratio

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