Problem - Selected information from the comparative financial statements of Aviles Company for the year ended December 31 appears below:
2011 2010
Accounts receivable (net) $ 175,000 $200,000
Inventory 130,000 150,000
Total assets 1,100,000 800,000
Current liabilities 140,000 110,000
Long-term debt 410,000 300,000
Net credit sales 800,000 700,000
Cost of goods sold 600,000 530,000
Interest expense 40,000 25,000
Income tax expense 60,000 29,000
Net income 150,000 85,000
Net cash provided by operating activities 220,000 135,000
Instructions: Answer the following questions relating to the year ended June 30, 2011. Show computations.
The inventory turnover ratio for 2011 is __________.
The number of times interest earned ratio in 2011 is __________.
The receivables turnover ratio for 2011 is __________.
The return on assets ratio for 2011 is __________.
The current cash debt coverage ratio for 2011 is __________.