You have the following information from a restaurant operation:

From the information given, calculate the following:

a. Working capital for Years 0007 and 0008

b. Current ratio for Years 0007 and 0008

c. Quick ratio (Acid test ratio) for Years 0007 and 0008

d. Credit card receivables as a percentage of credit card sales revenue for Year 0008

e. Credit card receivables turnover ratio based on credit card sales revenue for Year 0008

f. Credit card receivables average collection period ratio, based on credit card sales revenue for Year 0008 g. Accounts receivable as a percentage of accounts receivable credit sales revenue for Year 0008 h. Accounts receivable turnover ratio based on accounts receivable credit sales revenue for Year 0008 i. Accounts receivable average collection period based on accounts receivable credit sales revenue for Year 0008 j. Total assets to total liabilities for Years 0007 and 0008 k. Total liabilities to total assets for Years 0007 and 0008 l. Total liabilities to stockholders’ equity for Years 0007 and 0008 m. Net return on total assets for Year 0008 n. Number of times interest is earned for Year 0008 o. Net income to total sales revenue ratio for Year 0008 p. Return on stockholders’ equity for Year 0008 q. Food inventory turnover ratio for Year 0008 r. Property, plant, and equipment (fixed assets) turnover ratio for Year 0008 Comment on any of the calculated ratios that appear unusually high or low or totally out of range of what is considered acceptable.LO1

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Balance Sheets, December 31 Assets Cash Credit card receivables Accounts receivable Food inventory Year 0007 $ 9,100 Year 0008 $ 14,200 4,920 6,240 5,280 6,160 14,600 13,900 Prepaid expenses Land 3,800 4,500 32,000 32,000 Building 315,800 323,200 Equipment 66,640 73,200 Furnishings 16,660 18,300 Accumulated depreciation Total Assets ( 113,700) $335,100 ( 124,500) $367,200