Classic Vinyl Limited is a record wholesaler selling new and used vinyl records to record stores and antique shops throughout Canada. The companys comparative financial statements for the fiscal year ending December 31 appear below. The company did not issue any new common or preferred shares during the year. A total of 750,000 common shares were outstanding. The interest rate on the bond payable was 5%, the income tax rate was 30%, and the dividend per common share was $2.00. The market value of the companys common shares at the end of the year was $153. All of the companys sales are on account:

CLASSIC VINYL LIMITED Comparative Balance Sheet (dollars in thousands)
	This Year				Last Year
Assets
Current assets:
Cash	$	2,460			$	2,720
Accounts receivable, net		19,500				18,500
Inventory		31,500				24,720
Prepaid expenses		1,350				1,150
Total current assets		54,810				47,090
Property and equipment:
Land		24,000				24,000
Buildings and equipment, net		88,600				91,000
Total property and equipment		112,600				115,000
Total assets	$	167,410			$	162,090
Liabilities and Shareholders Equity
Current liabilities:
Accounts payable	$	44,500			$	48,765
Accrued payables		1,950				2,300
Notes payable, short term						800
Total current liabilities		46,450				51,865
Long-term liabilities:
Bonds payable		22,000				22,000
Total liabilities		68,450				73,865
Shareholders equity:
Preferred shares		2,000				2,000
Common shares		15,000				15,000
Total paid-in capital		17,000				17,000
Retained earnings		81,960				71,225
Total shareholders equity		98,960				88,225
Total liabilities and shareholders equity	$	167,410			$	162,090

CLASSIC VINYL LIMITED Comparative Income Statement and Reconciliation of Retained Earnings (dollars in thousands)
	This Year				Last Year
Sales	$	213,000			$	220,000
Cost of goods sold		135,000				133,500
Gross margin		78,000				86,500
Selling and administrative expenses:
Selling expenses		36,750				35,250
Administrative expenses		23,700				22,500
Total selling and administrative expenses		60,450				57,750
Operating income		17,550				28,750
Interest expense		1,100				1,100
Net income before taxes		16,450				27,650
Income taxes		4,935				8,295
Net income		11,515				19,355
Dividends to preferred shareholders		180				1,100
Net income remaining for common shareholders		11,335				18,255
Dividends to common shareholders		600				1,500
Net income added to retained earnings		10,735				16,755
Retained earnings, beginning of year		71,225				54,470
Retained earnings, end of year	$	81,960			$	71,225

Required:

Compute the following financial data for this year:

1. Working capital. (Enter your answers in thousands.)

2. Current ratio. (Round your answer to 2 decimal places.)

3. Acid-test ratio. (Round your answer to 2 decimal places.)

4. Accounts receivable turnover. (Assume that all sales are on account.) (Round your answer to 2 decimal place.)

5. Average collection period. (Use 365 days in a year. Do not round intermediate calculation and round your final answer to 1 decimal place.)

6. Inventory turnover. (Round your answer to 2 decimal place.)

7. Average sale period. (Use 365 days in a year. Do not round intermediate calculation and round your final answer to 1 decimal place.)