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Question 14 Carla Vista Automotive’s balance sheet at the end of its most recent fiscal year...

Question 14

Carla Vista Automotive’s balance sheet at the end of its most recent fiscal year shows the following information:
Carla Vista Automotive
Balance Sheet as of March 31, 2017
Assets: Liabilities and Equity:
Cash and marketable sec. $20,000 Accounts payable and accruals $164,000
Accounts receivable 151,000 Notes payable 29,000
Inventory 235,000
    Total current assets $406,000     Total current liabilities $193,000
Long-term debt 166,000
    Total liabilities $359,000
Net plant and equipment 770,000 Common stock 312,000
Goodwill and other assets 100,000 Retained earnings 605,000
Total assets $1,276,000 Total liabilities and equity $1,276,000


In addition, it was reported that the firm had a net income of $169,000 on net sales of $4,350,000.

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What are the firm’s current ratio and quick ratio? (Round answers to 2 decimal places, e.g.15.25.)
Current Ratio times
Quick Ratio times
Calculate the firm’s days’ sales outstanding, total asset turnover ratio, and fixed asset turnover ratio. (Round answers to 2 decimal places, e.g.15.25. Use 365 days for calculation.)
Days Sales Outstanding days
Total Asset Turnover times
Fixed Asset Turnover times

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