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Excerpts from Candle Corporation's most recent balance sheet ( in thousands of dollars ) appear below: Year 2 Year 1 Current assets: Cash $ 1
Excerpts from Candle Corporation's most recent balance sheet in thousands of dollars appear below:
Year Year
Current assets:
Cash $ $
Accounts receivable, net
Inventory
Prepaid expenses
Total current assets $ $
Current liabilities:
Accounts payable $ $
Accrued liabilities
Notes payable, short term
Total current liabilities $ $
Sales on account during the year totaled $ thousand. Cost of goods sold was $ thousand.
Required:
Compute the following for Year :
a Working capital. Enter your answer in thousands of dollars, ie should be entered as
b Current ratio. Round your answer to decimal places.
c Acidtest quick ratio. Round your answer to decimal places.
d Accounts receivable turnover. Round your answer to decimal places.
e Average collection period. Use days in a year. Round your intermediate calculations to decimals places and your final answer to decimal place.
f Inventory turnover. Round your answer to decimal places.
g Average sale period. Use days in a year. Round your intermediate calculations to decimals places and your final answer to decimal place.
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