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Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Sales on account during the year totaled $1,340 thousand. Cost of
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Sales on account during the year totaled $1,340 thousand. Cost of goods sold was $940 thousand. Required: Compute the following for Year 2 : a. Working copitol. (Enter your answer in thousands of doltars, l.e., 100,000 should be entered as 100. ) b. Current ratio. (Round your answer to 2 decimal places.) c. Acid-test (quick) ratio. (Round your answer to 2 decimal places.) d. Accounts receivable turnover. (Round your answer to 2 decimal places.) e. Average coliection period. (Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 1 decimal place.) f. Inventory turnover. (Round your answer to 2 decimal places.) 9 Averoge sale period. (Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 1 decimal place.)
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