... information, the firm's current assets equal $148,750 ($35,750 + $47,000 + $66,000) Therefore, for its current ratio to increase to 2.0, it must reduce accounts payable to a level such that current liabilities ... days b Total assets = Inventory + Receivables + Fixed assets = $150,000/6 + [($150,000/365) × 36.5] + $35,000 = $25,000 + $15,000 + $35,000 = $75,000 Total assets turnover = Sales/Total assets = ... Earnings before taxes Taxes (40%) Net income Return on equity $ $ $ Current assets (% of sales × Sales) Fixed assets Total assets 240,000 91,200 $ 148,800 59,520 $ 89,280 11.75% 240,000 96,000...