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The 2024 income statement of Anderson Medical Supply Company reported net sales of $10 million,...

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Accounting

The 2024 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $5.3 million, and net income of $825,000. The following table shows the company's comparative balance sheets for 2024 and 2023:
($ in thousands)
20242023
Assets
Cash $ 400 $ 480
Accounts receivable 800550
Inventory 1,150950
Property, plant, and equipment (net)2,9002,620
Total assets $ 5,250 $ 4,600
Liabilities and shareholders equity
Current liabilities $ 1,060 $ 930
Bonds payable 1,4501,450
Common stock 1,5001,500
Retained earnings 1,240720
Total liabilities and shareholders' equity $ 5,250 $ 4,600
Required:
1. Calculate Anderson's turnover ratios for 2024.
Note: Use 365 days a year. Round your answers to 2 decimal places.

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