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Selected Information from the Comparative Financial Statements of Fava Company \underline{\quad\quad}

Question 8

Essay

Selected information from the comparative financial statements of Fava Company for the year ended December 31 appears below:
Instructions
Answer the following questions relating to the year ended December 31 2017. Show computations. 1. Inventory turnover for 2017 is \underline{\quad\quad}
2. Times interest earned in 2017 is \underline{\quad\quad}
3. The debt to assets ratio for 2017 is \underline{\quad\quad}
4. Accounts receivable turnover for 2017 is \underline{\quad\quad}
5. Return on assets for 2017 is \underline{\quad\quad}

Correct Answer:

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1. Inventory turnover for 2017 is 6 time...

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