accounting exercise

Year 1 2) Albert Corporation has provided the following financial data: Balance Sheet December 31, Year 2 and Year 1 Assets Year 2 Current assets: Cash 190,000 Accounts receivable, net 197,000 Inventory 232,000 Prepaid expenses 9,000 Total current assets 628,000 Plant and equipment, net 695,000 Total assets S 1,323,000 $ 190,000 200,000 200,000 10,000 600,000 700.000 S 1,300,000 $ 200,000 90,000 50.000 340,000 130.000 470,000 160,000 70,000 600,000 830,000 $ 1,300,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 206,000 Accrued liabilities 104,000 Notes payable, short term 41,000 Total current liabilities 351,000 Bonds payable 130,000 Total liabilities 481,000 Stockholders' equity Common stock, $2 par value 160,000 Additional paid-in capital 70,000 Retained earnings 612.000 Total stockholders' equity 842.000 Total liabilities & stockholders' equity $ 1,323,000 Income Statement For the Year Ended December 31, Year 2 Sales (all on account) Cost of goods sold Gross margin Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $ 1,330,000 740,000 590,000 555,000 35,000 11.000 24,000 7,200 $ 16,800 Required: a. What is the company's working capital at the end of Year 2? b. What is the company's current ratio at the end of Year 2? c. What is the company's acid-test (quick) ratio at the end of Year 2? d. What is the company's accounts receivable turnover for Year 2? e. What is the company's average collection period for Year 2? f. What is the company's inventory turnover for Year 2? g. What is the company's average sale period for Year 2? h. What is the company's operating cycle for Year 2? i. What is the company's total asset turnover for Year 2