Presented below is information related to Windsor Inc. WINDSOR INC. BALANCE SHEET DECEMBER 31, 2020 Cash $45,100 Notes payable (short-term) $50,300 Receivables $111,000 Accounts payable 31,700 Less: Allowance 14,800 96,200 Accrued liabilities 5,100 Inventory 169,300 Common stock (par $5) 259,100 Prepaid insurance 8,100 Retained earnings 142,900 Land 19,900 Equipment (net) 150,500 $489,100 $489,100 WINDSOR INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $1,401,400 Cost of goods sold Inventory, Jan. 1, 2020 $201,900 Purchases 797,500 Cost of goods available for sale 999,400 Inventory, Dec. 31, 2020 (169,300 ) Cost of goods sold 830,100 Gross profit on sales 571,300 Operating expenses 171,100 Net income $400,200 Compute the following ratios or relationships of Windsor Inc. Assume that the ending account balances are representative unless the information provided indicates differently. (Round answers to 2 decimal places, e. g. 1.59 or 45.87%.)

A. Current Ratio 3.66times

B. Inventory turnover 4.47times

C. Accounts receivable turnover 14.57times

D. Earnings per share $7.72

E.Profit margin ratio 28.56%

F.Return on assets 81.82%

Explanation:

A. Computation for Current Ratio

Using this formula

Current Ratio=Total Current Assets/Total Current Liabilities

Where,

Total Current Assets

Cash$45,100

Receivables$96,200

Inventory$169,300

Prepaid Insurance$8,100

Total Current Assets $318,700

Total Current Liabilities

Notes payable (short-term)$50,300

Accounts Payable$31,700

Accrued liabilities$5,100

Total Current Liabilities $87,100

Let plug in the formula

Current Ratio=$318,700/$87,100

Current Ratio=3.66times

Therefore Current Ratio is 3.66times

B.Calculation to determine Inventory turnover

Using this formula

Inventory turnover=Cost of Goods Sold/Average Inventory

Where,

Cost of Goods Sold $830,100

Average Inventory =[($201,900 + $169,300)/2] Average Inventory=$185,600

Let plug in the formula

Inventory turnover=$830,100/$185,600

Inventory turnover =4.47times

Therefore Inventory turnover is 4.47times

C. Calculation to determine the Accounts receivable turnover

Using this formula

Accounts receivable turnover=Net credit sales .

/Ending Receivables

Let plug in the formula

Accounts receivable turnover=$1,401,400/$96,200

Accounts receivable turnover =14.57times

Therefore Accounts receivable turnover =is 14.57times

D. Calculation to determine Earnings per share:

Using this formula

Earnings per share=Earnings available to the common shareholders/Weighted average number of common shares

Where,

Earnings available to the common shareholders =

Net Income$400,200

Less: Preferred dividends$0

$400,200

Weighted average number of common shares = ($259,100/$5)51,820

Let plug in the formula

Earnings per share =$400,200/51,820

Earnings per share =$7.72

Therefore Earnings per share is $7.72

E. Calculation to determine Profit margin ratio:

Net Income (a)$400,200

Net credit sales (b)$1,401,400

Profit margin ratio (a/b*100)28.56%

Therefore Profit margin ratio is28.56%

F. Calculation to determine Return on assets on December 31, 2020:

Net Income (a)$400,200

Total assets (b)$489,100

Return on assets (a/b*100) 81.82%

Therefore Return on assets is 81.82%

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.