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The 2024 income statement of Anderson Medical Supply Company reported net sales of $7 million,...

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Accounting

The 2024 income statement of Anderson Medical Supply Company reported net sales of $7 million, cost of goods sold of $5.0 million, and net income of $810,000. The following table shows the company's comparative balance sheets for 2024 and 2023:

($ in thousands)
2024 2023
Assets
Cash $ 340 $ 420
Accounts receivable 740 520
Inventory 1,000 800
Property, plant, and equipment (net) 2,600 2,320
Total assets $ 4,680 $ 4,060
Liabilities and shareholders equity
Current liabilities $ 1,000 $ 870
Bonds payable 1,300 1,300
Common stock 1,200 1,200
Retained earnings 1,180 690
Total liabilities and shareholders' equity $ 4,680 $ 4,060

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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