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E12-26B Current ratio, quick ratio, cash conversion cycle, accounts receivable turnover, inventory turnover, gross profit...

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E12-26B Current ratio, quick ratio, cash conversion cycle, accounts receivable turnover, inventory turnover, gross profit percentage, and net income percentage (Learning Objective 2) 15-20 min. The financial statements of Motion Auto Repair, Inc., include the following items: 1. Compute the following ratios for the current year: (a) current ratio, (b) quick ratio, (c) cash conversion cycle, (d) accounts receivable turnover, (e) inventory turnover, (f) gross profit percentage, and (g) net income percentage. Round all calculations to two decimal places, days to full days, and percentages to the nearest tenth of a percent. Assume all sales are on credit

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