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  3. toulouse co. lautrec co. assets cash $124,000 $328

Toulouse Co. Lautrec Co. Assets Cash $124,000 $328,000 Receivables 212,000 295,000 Inventories 598,000 539,000 Total...

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Accounting

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Toulouse Co. Lautrec Co. Assets Cash $124,000 $328,000 Receivables 212,000 295,000 Inventories 598,000 539,000 Total current assets 934,000 1,162,000 490,000 615,000 Other assets Total assets $1,424,000 $1,777,000 Liabilities and Stockholders' Equity Current liabilities $301,000 $366,000 393,000 490,000 Long-term liabilities Capital stock and retained earnings 730,000 921,000 Total liabilities and stockholders' equity $1,424,000 $1,777,000 Annual sales $971,000 $1,469,000 Rate of gross profit on sales 30 % 40 % Each of these companies has requested a loan of $50,000 for 6 months with no collateral offered. Because your quota for loans of this type, only one of these requests is to be granted. Toulouse Co. Lautrec Co. urrent ratio 3.1 1 3.17 :1 id-test ratio 112 1 1.7 :1 counts receivable turnover 458 times 4.98 times entory turnover times times sh to current liabilities 41 9

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