Current year financial statement information for the Quant Corporation: Balance Sheet Jan. 1 Dec. 31 Cash $ 100 $ 150 Receivables, net 300 320 Inventories 600 660 Prepaids 200 270 Plants assets 2,000 2,400 Accumulated depreciation (800) (1,000) Total assets $2,400 $2,800 Accounts payable $ 120 $ 160 Income tax payable 80 70 Accrued payables 90 210 Current maturity of long-term debt 300 300 Bonds payable 500 400 Preferred stock, $100 par 100 100 Common stock, $1 par 200 250 PIC-common 300 350 Retained earnings 810 1,080 Treasury stock (100) (120) Total liabilities and OE $2,400 2,800 Income Statement Sales $3,800 Cost of goods sold (1,700) Gross margin 2,100 Operating expenses (1,400) Interest expense (100) Income before tax 600 Income tax expense (180) Net income $ 420 Ratio or amount Computation Working capital 123 Current ratio 123 Acid test (quick) ratio 123 Accounts receivable turnover 123 Inventory turnover 123 Operating cycle in days 123 Type your input FORMATTED RESPONSE ResetAcceptCancel