Jackson Company had the following selected information on th…

Jackson Company had the following selected information on their 20X1 balance sheet/income statement: Balance sheet Cash and cash equivalents $200,000Short-term investments $50,000Current assets $650,000Current liabilities $600,000Long-term debt $100,000Shareholders’ Equity $300,000 Income Statement Net income $95,000Interest expense $5,000Cost of goods sold $800,000Income taxes $15,000 The company does not have any noncontrolling interest.  Calculate Jackson Company’s current ratio. 

Extreme Sports Company and All Sports CorporationBelow is fi…

Extreme Sports Company and All Sports CorporationBelow is financial information for two sporting goods retailers. Extreme Sports Company operates a retail business and franchising business. At the end 2011, Extreme Sports had 263 Company-owned and 120 franchise-operated retail stores. Extreme’s stores are located in suburban, strip mall and regional mall locations, the company operates in 32 states. All Sports Corporation sells sporting goods and related products at over 2,500 Company-operated retail stores. Selected Data for All Sports and Extreme Sports(amounts in millions)​All SportsExtreme SportsSales$5,320$1,344Cost of Goods Sold3,897887Interest Expense13843Net Income21233Average Inventory998286Average Fixed Assets1,163130Average Total Assets2,472662Average Tax Rate40%40%  Refer to the information for Extreme Sports Company and All Sports Corporation.Compute the Asset Turnover for All Sports.