Business, 23.06.2020 21:01 chiefkeef5330

The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $5.3 million, and net income of $825,000. The following table shows the company's comparative balance sheets for 2021 and 2020: 2021($ in '000s) 2020($ in '000s)Assets Cash $380 $460Accounts receivable 780 540Inventory 1,100 900Property, plant, and equipment (net) 2,800 2,520Total assets $5.060 $4,420Liabilities and shareholders' equity Current liabilities $1,040 $910Bonds payable 1,400 1,400Paid-in capital 1,400 1,400Retained earnings 1,220 710Total liabilities and shareholders' equity $5,060 $4,420Calculate Anderson's turnover ratios for 2021.Inventory turnover ratio _ _ _ _ timesReceivables turnover ratio _ _ _ _ timesAverage collection period _ _ _ _ daysAsset turnover ratio _ _ _ _ times

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