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Table 3.2 Actual 2019 13 Dane Dairy Product Key Ratios Industry Actual Average 2018 Current...

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Table 3.2 Actual 2019 13 Dane Dairy Product Key Ratios Industry Actual Average 2018 Current ratio 1.0 Quick ratio 0.8 0.75 Average collection period 23 days 30 days Inventory tumover 21.7 19 Debt ratio 647% 50% Times interest eamed Gross profit margin 13.6% Net profit margin 1.02. 0.5% Retum on total assets 2.0% Retum on equity 4.0% 5.5 12022 Income Statement Dana Dairy Products For the Year Ended December 31, 2019 Sales revenue $100,000 Less Cost of goods sold 87.000 Gross profits $ 13,000 Less Operating expenses 11,000 Operating profits $ 2.000 Less Interest expense Net protits before taxes Less Taxes (40%) Net protits after taxes 500 1.500 Balance Shes Das Dairy Products December 31, 2019 $1.000 8900 4.350 $14,250 Accounts receivable Inventories Total current assets Gross fixed assets Less Accumulated depreciation Netfxed assets Total assets $35,000 13250 2170 $36.000 Labilities & Rockholders Equity Accounts payable Accruals Total current liabilities Long-term debt Total liabilities Common stock Retained eamings Total stockholders' equity Total liabilities & stockholdersequity $ 9,000 6.675 $15,675 124 125 $19,800 1.000 15.200 $16200 $36,000 The inventory turnover for Dana Dairy Products in 2019 was _ . (See Table 3.2)

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