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Presented below is information related to Culver Inc.

CULVER INC. BALANCE SHEET DECEMBER 31, 2020
Cash				$ 45,300		Notes payable (short-term)		$ 50,200
Receivables		$ 109,300				Accounts payable		31,900
Less: Allowance		14,800		94,500		Accrued liabilities		5,000
Inventory				170,100		Common stock (par $5)		262,100
Prepaid insurance				7,900		Retained earnings		137,300
Land				20,200
Equipment (net)				148,500
				$ 486,500				$ 486,500

CULVER INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue					$ 1,398,900
Cost of goods sold
Inventory, Jan. 1, 2020		$ 201,800
Purchases		794,500
Cost of goods available for sale		996,300
Inventory, Dec. 31, 2020		( 170,100	)
Cost of goods sold					826,200
Gross profit on sales					572,700
Operating expenses					168,800
Net income					$ 403,900

(a)

Compute the following ratios or relationships of Culver Inc. Assume that the ending account balances are representative unless the information provided indicates differently. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.)

(1)		Current ratio			times
(2)		Inventory turnover			times
(3)		Accounts receivable turnover			times
(4)		Earnings per share		$
(5)		Profit margin on sales			%
(6)		Return on assets on December 31, 2020			%

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