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Calculate current ratio and receivables turnover ratio

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Reference no: EM132841826

Problem - Selected financial data for Crown Point Ltd. are shown below.

 

2021

2020

2019

Accounts receivable (gross)

$861,000

$765,000

$646,000

Inventory

1,022,000

973,000

849,000

Total current assets

2,063,000

1,963,000

1,673,000

Total current liabilities

1,013,000

1,083,000

1,227,000

Credit sales

6,498,000

6,272,000

5,429,000

Cost of goods sold

4,511,000

4,483,000

4,016,000

Required - Calculate current ratio, receivables turnover ratio and inventory turnover ratio for 2021 and 2020.

Reference no: EM132841826

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