A6. (Window dressing) The balance sheet of the sunshine Corp. includes the following items (in dollars, the full balance sheet is not shown here):

gcom/# books/9781317353201/cf/6/36/4/32 Search countries is likely to be lower than U.S. salary rates A6. (Window dressing) The balance sheet of the Sunshine Corp. includes the following items (in dollars, the full balance sheet is not shown here) Cash Accounts receivable Inventory Total current assets Noncurrent assets Total assets Current liabilities Noncurrent liabilities 50,000 30,000 60,000 140,000 260,000 400,000 100,000 230,000 70,000 400,000 Total liabilities and equity Assume the company had net income of $7,000 and sales of $90,000. The cost of goods sold was s60,000. A. Compute the current ratio. The formula for this is current assets divided by current liabilities. B. Assume the company uses $40,000 of cash to repay current liabilities just before year end. What would the current ratio be? C. Compute the number of days' sales on hand at the end of the year. The formula for this is 365 x (ending receivables + sales.) D. Assume that, just before the end of the year, the company sells $10,000 of its accounts receivable to a financial institution, and E. Compute the number of days of inventory on hand at the end of the year. The formula is 365 x (ending inventory cost of F. Assume that, just before the end of the year, the company sells 25,000 of its inventory to another company in the business for receives cash of $9,500 in exchange. Compute the number of days' sales on hand at the end of the year after this transaction. goods sold.) the cost of $25,000, and secretly agrees to buy the inventory back after year end for s25,500. Compute the number of days of inventory on hand at the end of the year