The 2018 income statement of Anderson Medical Supply Company reported net sales of $8 million, cost of goods sold of $4.8 million, and net income of $800,000. The following table shows the company's comparative balance sheets for 2018 and 2017:

Some industry averages for Anderson's line of business are
Inventory turnover................................5 times
Average collection period.......................25 days
Asset turnover...................................1.8 times
Required:
1. Determine the following ratios for 2018:
a. Inventory turnover
b. Receivables turnover
c. Average collection period
d. Asset turnover
2. Assess Anderson's asset management relative to its industry.

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($ in thousands) 2018 2017 Cash Accounts receivable $ 300 700 $ 380 2,400 $4,300 700 2.120 $3,700 Property, plant, and equipment (net) Total assets Llablltles and Shareholders' Equity Current liabilities Bonds payable Paid-in capital Retained earnings $ 960 1,200 1,000 1,140 $4,300 $ 830 1,200 1,000 670 $3,700 Total liabilities and shareholders' equity