Accounting -Gross sales $3,200,000 Sales returns and allowances $120,000

| January 30, 2017

Question
Gross sales $3,200,000

Sales returns and allowances $120,000

Net sales $3,080,000

Cost of goods sold $2,240,000

Income before interest and taxes $480,000

Interest on bonds $128,000

Net income $256,000

Accounts receivable, January 1, 2014 $480,000

Accounts receivable, December 31, 2014 $640,000

Merchandise Inventory, January 1, 2014 $600,000

Merchandise Inventory, December 31, 2014 $680,000

The time interest earned ratio is?

The Accounts Receivable turnover is?

The inventory turnover is?

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