Selected financial statement data for Morton Company are presented below. 
During 2011, net sales were $900,000, and cost of goods sold was $705,000.
Instructions
Compute the following ratios at December 31, 2011:
(a) Current.
(b) Acid-test.
(c) Receivables turnover.
(d) Inventory turnover.
Definitions:
Medication Dependence
A condition in which an individual requires a medication to function normally and experiences physical or psychological effects from withdrawal.
Health Care Providers
Professionals who offer services aimed at maintaining or improving individuals' health.
Anaphylactic Reaction
A severe, potentially life-threatening allergic reaction that can occur rapidly and affect multiple body systems.
Antibiotic Therapy
The use of antibiotics to treat bacterial infections, involving the selection of appropriate drugs and determination of the duration and dosage of treatment.
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