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Ratio analysis. (LO 3)
Evans Family Grocers reported the following for the two most recent fiscal years.
December 31
2008
2007
Cash
$ 25,000
$ 20,000
Receivables (net)
60,000
70,000
Merchandise inventory
55,000
30,000
Plant assets
280,000
260,000
Total assets
$420,000
$380,000
Accounts payable
$45,000
62,000
Long-term notes payable
$4?9p99
100,000
Common stock
45,000
122,000
Retained earnings
75,000
96,000
Total Liabilities and Shareholder's Equity
135,000
Net income for the year ended 12/31/08
165,000
Sales( all sales were on account)
450,000
Cost of goods sold
210,000
Interest expense
1,500
Calculate the following for the year ended December 31,2008.
a. Current ratio
b. Working capital
c. Accounts receivable turnover ratio
d. Inventory turnover ratio
e. Return on assets
f. Return on equity
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