SHOW WORK PLEASE

Use the following selected financial data for Happy Valley Co. to answer the questions below:

Net Sales $365,000 Accounts Receivable $ 15,000

Cost of Goods Sold 280,000 Inventories 20,000

Operating Expenses 60,000 Total Assets 180,000

Net Income 10,000 Current Liabilities 60,000

Current Assets 65,000 Total Liabilities 120,000

Calculate the following ratios (round to 1 decimal point and use 365 days in a year):

Remember to use proper labels (X:1, times, days, %)

1) Current ratio

2) Acid test (quick) ratio

3) Cash to cash operating cycle

4) Debt to equity

5) Profit margin ratio