Selected financial data for Amberjack Corporation follows. Year 1 ($ thousands) Year 2 ($ thousands) Sales...

 

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Selected financial data for Amberjack Corporation follows. Year 1 ($ thousands) Year 2 ($ thousands) Sales 273,161 460,445 Cost of goods sold 251,191 343,244 Net income (157,044) (403,709) Cash flow from operations (58,815) (20,685) Cash 341,380 269,122 Marketable securities 342,010 37,100 Accounts receivable Inventories 21,253 35,548 6,499 72,306 Total current assets Accounts payable Accrued liabilities Total current liabilities 711,142 414,076 29,108 22,958 44,558 125,051 73,666 148,009 a. Calculate the current and quick ratio at the end of each year. Note: Round your answers to 1 decimal place. b. Assuming a 365-day year for all calculations, compute the following: i. The collection period each year based on sales. ii. The inventory turnover and the payables period each year based on cost of goods sold. iii. The days' sales in cash each year. iv. The gross margin and profit margin each year. Note: Round your answers to 1 decimal place. Negative answers should be indicated by parentheses. 1. Current ratio 1. Quick ratio 2a. Collection period 2b. Inventory turnover (X) Year 1 Year 2 2b. Payables period (days) 2c. Days' sales in cash 2d. Gross margin % % 2d. Profit margin % % Selected financial data for Amberjack Corporation follows. Year 1 ($ thousands) Year 2 ($ thousands) Sales 273,161 460,445 Cost of goods sold 251,191 343,244 Net income (157,044) (403,709) Cash flow from operations (58,815) (20,685) Cash 341,380 269,122 Marketable securities 342,010 37,100 Accounts receivable Inventories 21,253 35,548 6,499 72,306 Total current assets Accounts payable Accrued liabilities Total current liabilities 711,142 414,076 29,108 22,958 44,558 125,051 73,666 148,009 a. Calculate the current and quick ratio at the end of each year. Note: Round your answers to 1 decimal place. b. Assuming a 365-day year for all calculations, compute the following: i. The collection period each year based on sales. ii. The inventory turnover and the payables period each year based on cost of goods sold. iii. The days' sales in cash each year. iv. The gross margin and profit margin each year. Note: Round your answers to 1 decimal place. Negative answers should be indicated by parentheses. 1. Current ratio 1. Quick ratio 2a. Collection period 2b. Inventory turnover (X) Year 1 Year 2 2b. Payables period (days) 2c. Days' sales in cash 2d. Gross margin % % 2d. Profit margin % %

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Upon reviewing the financial data for Amberjack Corporation the calculations for the current ratio ... View the full answer