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The 2021 income statement of Anderson Medical Supply Company reported net sales of $8 million,...

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Accounting

The 2021 income statement of Anderson Medical Supply Company reported net sales of $8 million, cost of goods sold of $4.8 million, and net income of $800,000. The following table shows the company's comparative balance sheets for 2021 and 2020:

($ in thousands)
2021 2020
Assets
Cash $ 300 $ 380
Accounts receivable 700 500
Inventory 900 700
Property, plant, and equipment (net) 2,400 2,120
Total assets $ 4,300 $ 3,700
Liabilities and shareholders equity
Current liabilities $ 960 $ 830
Bonds payable 1,200 1,200
Common stock 1,000 1,000
Retained earnings 1,140 670
Total liabilities and shareholders' equity $ 4,300 $ 3,700

Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal places.)

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