Comparative financial statements for Heritage Antiquing Services for the fiscal year ending December 31 appear on the following page. The company did not issue any new common or preferred stock during the year. A total of 600 thousand shares of common stock were outstanding. The interest rate on the bond payable was 10%, the income tax rate was 40%, and the dividend per share of common stock was $1.00. The market value of the companys common stock at the end of the year was $27. All of the companys sales are on account.

Heritage Antiquing Services Comparative Balance Sheet (dollars in thousands)
	This Year			Last Year
Assets
Current assets:
Cash	$	1,240		$	1,410
Accounts receivable, net		9,100			7,300
Inventory		12,800			11,100
Prepaid expenses		710			690
Total current assets		23,850			20,500
Property and equipment:
Land		9,300			9,300
Buildings and equipment, net		46,556			37,132
Total property and equipment		55,856			46,432
Total assets	$	79,706		$	66,932
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	18,700		$	17,800
Accrued payables		940			760
Notes payable, short term		140			140
Total current liabilities		19,780			18,700
Long-term liabilities:
Bonds payable		8,300			8,300
Total liabilities		28,080			27,000
Stockholders' equity:
Preferred stock		1,000			1,000
Common stock		600			600
Additional paid-in capital		4,000			4,000
Total paid-in capital		5,600			5,600
Retained earnings		46,026			34,332
Total stockholders' equity		51,626			39,932
Total liabilities and stockholders' equity	$	79,706		$	66,932

Heritage Antiquing Services Comparative Income Statement and Reconciliation (dollars in thousands)
	This Year			Last Year
Sales	$	72,980		$	65,000
Cost of goods sold		33,460			41,000
Gross margin		39,520			24,000
Selling and administrative expenses:
Selling expenses		11,300			10,100
Administrative expenses		6,800			6,700
Total selling and administrative expenses		18,100			16,800
Net operating income		21,420			7,200
Interest expense		830			830
Net income before taxes		20,590			6,370
Income taxes		8,236			2,548
Net income		12,354			3,822
Dividends to preferred stockholders		60			330
Net income remaining for common stockholders		12,294			3,492
Dividends to common stockholders		600			600
Net income added to retained earnings		11,694			2,892
Retained earnings, beginning of year		34,332			31,440
Retained earnings, end of year	$	46,026		$	34,332

Required:

Compute the following financial data for short-term creditors for this year:

1.	Working capital. (Enter your answer in thousands of dollars. Omit the "$" sign in your response.)

Working capital

$

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

Current ratio

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

Acid-test ratio

4.	Accounts receivable turnover. (Round your answer to 1 decimal place.)

Accounts receivable turnover

5.	Average collection period. (Use 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.)

Average collection period

days

6.	Inventory turnover. (Round your answer to 1 decimal place.)

Inventory turnover

7.	Average sale period. (Use 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.)

Average sale period

days

Steps would be much apperciated, Thanks!