The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million,...
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The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $5.8 million, and net income of $850,000. The following table shows the company's comparative balance sheets for 2021 and 2020: (s in thousands) 2021 2020 $ see 900 1,400 3.400 $6,200 $ 580 600 1,200 3, 120 $ 5,500 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity $1,160 1,700 2,000 1,340 $6,200 $1,030 1,700 2.000 770 $ 5,500 Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal places.) Inventory turnover ratio Receivables turnover ratio Average collection period Assel turnover ratio times times days times
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