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Balance Sheet:2010 2009 Cash$27,000 $33,000 Short-term investments22,000 28,000 Net receivables54,000 72,000 Inventory65,000 42,000 Prepaid expenses7,000 9,000 Total current assets175,000 184,000 Total current liabilities87,500 92,000 Income

Balance Sheet:2010 2009 Cash$27,000 $33,000 Short-term investments22,000 28,000 Net receivables54,000 72,000 Inventory65,000 42,000 Prepaid expenses7,000 9,000 Total current assets175,000 184,000 Total current liabilities87,500 92,000 Income Statement: Net credit sales $554,800 Cost of goods sold 331,700 1. What is the current ratio for 2010? 2. What is the quick ratio for 2010? 3. What is the inventory turnover for 2010? 4. What is the accounts receivable turnover for 2010? Please show all your work, not just the

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