The following are the data from the December 31, 2020 records of TVL Tradi the required:...

 

Transcribed Image Text:

The following are the data from the December 31, 2020 records of TVL Tradi the required: A. Cash Accounts Receivable Merchandise Inventory Property, Plant and Equipment Accounts Payable Utilities Payable Required: 1. Current Ratio 2. Acid-test Ratio B. Accounts Receivable Merchandise Inventory Net Sales Cost of Sales Total Assets Total Liabilities Required: 1. Accounts Receivable Turnover 2. Average Collection Period 3. Inventory Turnover 4. Average Sales Period 5. Debt Ratio P 205,000 6. Equity Ratio 7. Debt to Equity Ratio 60,000 117,500 227,500 87,500 45,000 P 72,500 132,500 625,000 187,500 610,000 340,000 C. Net Sales Cost of Goods Sold Gross Profit Selling and Administrative Exp. 550,000 P 2,500,000 1,000,000 1,500,000 The following are the data from the December 31, 2020 records of TVL Tradi the required: A. Cash Accounts Receivable Merchandise Inventory Property, Plant and Equipment Accounts Payable Utilities Payable Required: 1. Current Ratio 2. Acid-test Ratio B. Accounts Receivable Merchandise Inventory Net Sales Cost of Sales Total Assets Total Liabilities Required: 1. Accounts Receivable Turnover 2. Average Collection Period 3. Inventory Turnover 4. Average Sales Period 5. Debt Ratio P 205,000 6. Equity Ratio 7. Debt to Equity Ratio 60,000 117,500 227,500 87,500 45,000 P 72,500 132,500 625,000 187,500 610,000 340,000 C. Net Sales Cost of Goods Sold Gross Profit Selling and Administrative Exp. 550,000 P 2,500,000 1,000,000 1,500,000