1. Saveway Grocery Stores had a beginning accounts payable balance of $150,000 and an ending accounts payable balance of $225,000. Sales for the period were $1,670,000 and costs of goods sold were $1,018,000. What is the payables turnover rate? Saveway's CFO has noticed that in recent periods the payables turnover has been decreasing and the company often has a cash surplus. Why might this be happening? 2. A local snowmobile dealer has had an excellent fall and winter season. Inventory was purchased late in the summer, and almost all of it has sold with excellent profit margins. The company's cash balance is higher than it has ever been, and management is looking at investing the cash in fifteen-year corporate bonds issued by a company based in the UK. Discuss. 3. A company based in Montreal, Quebec has a cash balance of $12,000 as of June 1. During the month they paid $16,000 on account, $13,000 for wages, and $1,000 for other expense items. The company maintains a minimum cash balance of $10,000. Sales for the firm for April, May, and June are $15,000, $22,000, and $18,750, respectively. The company collects 40% of sales in the month of sale, 50% in the following month, and 10% in the second month following the month of sale. What is the cash surplus or deficit as of June 30, relative to the company's required minimum cash balance? 4. Your supplier grants you credit terms of 3/10, net 42 (a 3.00% discount). What is the effective annual rate of the discount if you purchase $4,000 worth of merchandise