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Bennis Company has the following comparative balance sheet
Balance Sheets
December 31

2012 2011
Cash $ 15,170 $ 30,360
Receivables (net) 69,670 59,630
Inventories 59,700 50,160
Plant assets (net) 199,500 179,900
$344,040 $320,050

Accounts payable $50,130 $53,700
Mortgage payable (15%) 100,300 100,300
Common stock, $10 par 140,200 120,500
Retained earnings 53,410 45,550
$344,040 $320,050

Additional information for 2012:

Net income was $25,470.

Sales on account were $410,300. Sales returns and allowances were

Cost of goods sold was $197,900.

The allowance for doubtful accounts was $2,580 on December 31,
2012, and $1,770 on December 31, 2011.

Compute the following ratios at December 31, 2012. (a) Current. (b)
Acid-test. (c) Receivables turnover. (d) Inventory turnover. (Round
answers to 1 decimal place, e.g. 10.5.)

(a) Current ratio : 1
(b) Acid-test ratio : 1
(c) Receivables turnover _______ times
(d) Inventory turnover ________ times


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