Partial comparative balance sheet and income statement information for Allen Company is as follows:

In 20x6, the year-end balances for Accounts Receivable and Inventory were $32,400 and $51,200, respectively. Accounts Payable was $30,600 in 20x6 and is the only current liability. Compute the current ratio, quick ratio, receivable turnover, days’ sales uncollected, inventory turnover, days’
inventory on hand, payables turnover, and days’ payable for each year.
(Round computations to one decimal place.) Comment on the change in the company’s liquidity position, including its operating cycle and required days of financing from 20x7 to 20x8.
Turnover Analysis

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20x8 20x7 Cash Marketable securities Accounts receivable (net) $ 13,600 $ 10,400 7,200 17,200 44,800 35,600 Inventory 54,400 49,600 Total current assets $120,000 $112,800 $ 40,000 $ 28,200 Accounts payable Net sales Cost of goods sold Gross margin $322,560 217,600 $220,720 203,360 $104,960 $ 17,360