A partial balance sheet and income statement for King Corporation follow:

KING CORPORATION

Partial Balance Sheet

31-Dec-11

Assets

Current assets:

Cash

$ 33,493

Marketable Securities

215,147

Trade receivables, less allowance of $6,000

255,000

Inventories, LIFO

523,000

Prepaid expenses

26,180

Total current assets

$ 1,052,820

Liabilities

Current liabilities:

103,689

Notes payable (primarily to banks) and commercial paper

210,381

Accrued expenses and other liabilities

120,602

Income taxes payable

3,120

Current maturities of long term debt

22,050

Total current iabilities

$ 459,842

KING CORPORATION

Partial Income Statement

For the year ended December 31, 2011

Net Sales

$ 3,050,600

Miscellaneious Income

45,060

$ 3,095,660

Costs and expenses:

Cost of sales

2,185,100

Selling, general, and adminsitrative expenses

$ 350,265

Interest expense

45,600

Income taxes

$ 300,000

2,880,965

Net income

$ 214,695

Required Compute the following:
a. Working Capital
b Current ratio
c. Acid test
d. Cash ratio
e. Days sales in recievables
f. Accounts receivable turnover in days
g. Days sales inventory
h. Inventory turnover in days
i. Operating cycle