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Business, 08.05.2021 01:10 gwendallinesikes

Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $ 202 $ 100 Accounts receivable, net 232 232 Inventory 182 172 Prepaid expenses 132 132 Total current assets $ 748 $ 636 Current liabilities: Accounts payable $ 242 $ 222 Accrued liabilities 72 72 Notes payable, short term 132 122 Total current liabilities $ 446 $ 416 Sales on account during the year totaled $1,410 thousand. Cost of goods sold was $1,010 thousand. Required: Compute the following for Year 2: a. Working capital. (Enter your answer in thousands of dollars, i. e., 100,000 should be entered as 100.) b. Current ratio. (Round your answer to 2 decimal places.) c. Acid-test (quick) ratio. (Round your answer to 2 decimal places.) d. Accounts receivable turnover. (Round your answer to 2 decimal places.) e. Average collection period. (Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 1 decimal place.) f. Inventory turnover. (Round your answer to 2 decimal places.) g. Average sale period. (Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 1 decimal place.)

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