Ratio Analysis
the Following Select Information Is Taken from Blueberry

question 7

Essay

Ratio analysis
The following select information is taken from Blueberry Pie Corp.'s statements of financial position at December 31, 2019 and 2020, and their income statement for calendar 2020: $\begin{array}{llr}&2020&2019\\\\ \text { Assets: } &\\ \text {Cash } &\$18,000&\$22,000\\ \text { \( \mathrm{FV}-\mathrm{NI} \) investments } &25,000&-0-\\ \text { Accounts receivable } &38,000&42,000\\ \text { Inventory} &61,000&52,000\\ \text { Prepaid insurance } &6,000&9,000\\ \text { Long-term investments } &49,000&20,000\\ \text { Equipment (net) } &130,000&130,000\\ \text { Land } &33,000&33,000\\ \text { Goodwill } &55,000&55,000\\ \text {Total assets } &\$415,000&\$363,000\\\\ \text {Net income. } &\$62,250\\ \text { Sales (all on credit) } &305,000\\ \text {Cost of goods sold. } &123,000\\ \text { Interest expense.} &15,600\\ \text { Income tax expense } &17,450\\\end{array}$
Instructions
From the above information, to one decimal, calculate the following for 2020:
a) Inventory turnover
b) Receivables turnover
c) Rate of return on assets
d) Times interest earned.

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Definitions:

Unicorn

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Customer database that allows managers to combine data from several different organizational functions.