Use the Following Information to Calculate the Ratios Requested Below

question 23

Essay

Use the following information to calculate the ratios requested below. Round answers to two decimal places. Show your work.
$$\begin{array} { l r r } \text { Average inventory } & \$ 6,000 \\\text { Average total assets } & 80,000 \\\text { Cost of goods sold } & 21,000 \\\text { Income taxes expense } & 3,600 \\\text { Interest expense } & 2,000 \\\text { Net income } & 4,800 \\\text { Net sales } & 40,000 \\\text { Market price, December } 31 \text {, on } 2,000 \text { shares } & \$ 36 / \text { share }\end{array}$$ $\begin{array}{|l|l|l|l|}\hline\text { Return on assets } & & \text { Inventory turnover }& \\\hline \text { Price/earings }(\mathrm{P} / \mathrm{E}) \text { ratio } & & \text { Interest coverage ratio }& \\\hline & &&\\\hline\end{array}$

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Definitions:

General Population

The total group of individuals from which a sample might be drawn for a study or survey.

Evolutionary Psychologists

Researchers who study how evolutionary principles explain human thoughts, feelings, and behaviors.

Sociobiology

The study of the biological basis of all social behavior.

Cultural Variations

Differences in cultural practices, beliefs, and values among various groups, influencing behaviors, perceptions, and social norms.