Use the work sheet and financial statements prepared in Problem 15 8A All sales are credit sales The Accounts Receivable balance on January 1, 20 , was $3,800 REQUIRED Prepare the following financial ratios (a) Working capital (b) Current ratio (c) Quick ratio (d) Return on owners equity (e) Accounts receivable turnover and average number of days required to collect receivables (f) Inventory turnover and average number of days required to sell inventory

Question: Use the work sheet and financial statements prepared in Problem 15-8A. All sales are credit sales. The Accounts Receivable balance on January 1, 20--, was

Use the work sheet and financial statements prepared in Problem 15-8A. All sales are credit sales. The Accounts Receivable balance on January 1, 20--, was $3,800.

REQUIRED

Prepare the following financial ratios:

(a) Working capital

(b) Current ratio

(d) Return on owner’s equity

(e) Accounts receivable turnover and average number of days required to collect receivables

(f) Inventory turnover and average number of days required to sell inventory

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