Question 1: Directions: Complete the following financial analysis using the financial statements prepared in the image

Calculate the current ratio, quick ratio, current debt coverage, and inventory turnover.

Your list of account balances from the General Ledger: 20x2 20x1 Accounts Payable 2018 1686 Accounts Receivable 2125 2362 Short Term Notes Payable 450 375 Accumulated Depreciation: PP&E 702 600 Long-Term Liabilities 2750 2200 Cash 1918 1320 Cash Dividends 140 N/A Common Stock 3490 2141 Depreciation Expense 102 N/A Cost of Goods Sold 8001 N/A Property Plant & Equipment 6452 4637 Interest Expense 178 N/A Income Tax Expense 124 N/A Inventory 1458 1315 Retained Earnings 2043 1707 Sales 11428 N/A Selling & Administrative Expenses 2547 N/A Bonds Payable 500 925 Your list of account balances from the General Ledger: 20x2 20x1 Accounts Payable 2018 1686 Accounts Receivable 2125 2362 Short Term Notes Payable 450 375 Accumulated Depreciation: PP&E 702 600 Long-Term Liabilities 2750 2200 Cash 1918 1320 Cash Dividends 140 N/A Common Stock 3490 2141 Depreciation Expense 102 N/A Cost of Goods Sold 8001 N/A Property Plant & Equipment 6452 4637 Interest Expense 178 N/A Income Tax Expense 124 N/A Inventory 1458 1315 Retained Earnings 2043 1707 Sales 11428 N/A Selling & Administrative Expenses 2547 N/A Bonds Payable 500 925