Refer to the data in Exercise 14-2 for Classic Vinyl Limited.
Refer to data in exercise 14-2,
Classic Vinyl Limited is a record wholesaler selling new and used vinyl records to record stores and antique shops throughout Canada. The company's comparative financial statements for the fiscal year ending December 31 appear below. The company did not issue any new common or preferred shares during the year. A total of 600,000 common shares were outstanding. The interest rate on the bond payable was 5%, the income tax rate was 30%, and the dividend per common share was $1.25. The market value of the company's common shares at the end of the year was $150. All of the company's sales are on account:
CLASSIC VINYL LIMITED
Comparative Balance Sheet
(Dollars in thousands)

CLASSIC VINYL LIMITED
Comparative Income Statement and Reconciliation of Retained Earnings
(Dollars in thousands)

Required:
Compute the following financial data for this year:
1. Working capital.
2. Current ratio.
3. Acid-test ratio.
4. Accounts receivable turnover. (Assume that all sales are on account.)
5. Average collection period.
6. Inventory turnover.
7. Average sale period.