The Balance Sheet at December 31,2015 for Zumba Company Follows

Essay

The balance sheet at December 31,2015 for Zumba Company follows:
Additional information follows:
1.Net income for the year ended December 31,2015 is $2,020.
2.Cost of goods sold for the year ended December 31,2015 is $4,400.
3.Inventory on January 1,2015 is $1,800.
4.Accounts Receivable,net on January 1,2015 is $4,400.
5.Total assets on January 1,2015 is $20,000.
6.Net credit sales for the year ended December 31,2015 is $14,600.
7.Net income before interest and taxes for the year ended December 31,2015 is $4,800.
8.Interest expense for the year ended December 31,2015 is $550.
9.Total stockholders' equity on January 1,2015 is $3,500.
Compute the following ratios:
1.Current ratio
2.Quick ratio
3.Accounts receivable turnover
4.Days' inventory outstanding
5.Times interest earned
6.Return on assets
7.Return on equity