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3. Fill in the blanks \\( \\quad \\) with the correct entries. 8. Given the following information, compute the current and quick ratios: 9. If a firm has sales of \\( \\$ 25,689,000 \\) a year, and the average collection period for the industry is 45 days, what should this firm's accounts receivable be if the firm is comparable to the industry? 10. ABCD Corporation has credit sales of \\( \\$ 10,640,000 \\) and receivables of \\( \\$ 1,520,000 \\). a. What is the receivables turnover? b. What is the average collection period (days sales outstanding)? c. If the company offers credit terns of 30 days, are its receivables past due? 11. A firm with sales of \\( \\$ 500,000 \\) has average inventory of \\( \\$ 200,000 \\). The industry average for inventory turnover is four times a year. What would be the reduction in inventory if this firm were to achieve a turnover com. parable to the industry average? 3. Fill in the blanks \\( \\quad \\) with the correct entries. 8. Given the following information, compute the current and quick ratios: 9. If a firm has sales of \\( \\$ 25,689,000 \\) a year, and the average collection period for the industry is 45 days, what should this firm's accounts receivable be if the firm is comparable to the industry? 10. ABCD Corporation has credit sales of \\( \\$ 10,640,000 \\) and receivables of \\( \\$ 1,520,000 \\). a. What is the receivables turnover? b. What is the average collection period (days sales outstanding)? c. If the company offers credit terns of 30 days, are its receivables past due? 11. A firm with sales of \\( \\$ 500,000 \\) has average inventory of \\( \\$ 200,000 \\). The industry average for inventory turnover is four times a year. What would be the reduction in inventory if this firm were to achieve a turnover com. parable to the industry average