Solve for (A)current ratio, (B)acid test (quick), (C)average day's collection (360), (D)asset turnover, and (E)profit margin on sales. Round to nearest hundredth or hundredth percent as needed.
$$\begin{array} { | l | l | }
\hline \text { Current Assets } & \$ 21,000 \
\hline \text { Accounts Receivable } & \$ 4,200 \
\hline \text { Current Liabilities } & \$ 16,000 \
\hline \text { Inventory } & \$ 3,500 \
\hline \text { Net Sales } & \$ 41,000 \
\hline \text { Total Assets } & \$ 32,000 \
\hline \text { Net Income } & \$ 6,000 \
\hline
\end{array}$$

Question

Solve for (A)current ratio, (B)acid test (quick), (C)average day's collection (360), (D)asset turnover, and (E)profit margin on sales. Round to nearest hundredth or hundredth percent as needed.
 $$\begin{array} { | l | l | } 
\hline \text { Current Assets } & \$ 21,000 \
\hline \text { Accounts Receivable } & \$ 4,200 \
\hline \text { Current Liabilities } & \$ 16,000 \
\hline \text { Inventory } & \$ 3,500 \
\hline \text { Net Sales } & \$ 41,000 \
\hline \text { Total Assets } & \$ 32,000 \
\hline \text { Net Income } & \$ 6,000 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Solve for (A)current ratio, (B)acid test (quick), (C)average day's collection (360), (D)asset turnover, and (E)profit margin on sales. Round to nearest hundredth or hundredth percent as needed.
 $$\begin{array} { | l | l | } 
\hline \text { Current Assets } & \$ 21,000 \
\hline \text { Accounts Receivable } & \$ 4,200 \
\hline \text { Current Liabilities } & \$ 16,000 \
\hline \text { Inventory } & \$ 3,500 \
\hline \text { Net Sales } & \$ 41,000 \
\hline \text { Total Assets } & \$ 32,000 \
\hline \text { Net Income } & \$ 6,000 \
\hline
\end{array}$$

Solve for (A)current Ratio, (B)acid Test (Quick), (C)average Day's Collection