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12.00 points Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets 180 160 Cash
12.00 points Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets 180 160 Cash Accounts receivable 190 Inventory 140 180 Prepaid expenses Total cument assets 552 592 Current liabilities: 110 110 Accounts payable abilities 100 Notes payable, short term 272 244 Total cument liabilities Sales on account during the year totaled S1,380 thousand. Cost of good sold was $860 thousand. Required: a. Compute the following working capital for Year 2.(Enter your answer in thousands of dollars, i e., 100,000 should be entered as 100.) b. Compute the following current ratio for Year 2. (Round your answer to 2 decimal places.) urrent ratio c. Compute the following acid-test ratio for Year 2. (Round your answer to 2 decimal places.) id-test ratio d. Compute the following accounts receivable turnover for Year 2.(Round your answer to 2 decimal places.)
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