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Excerpts from Stepney Corporation's most recent balance sheet (in thousands of dollars) appear below: Sales on account during the year totaled $1,440 thousand. Cost of
Excerpts from Stepney Corporation's most recent balance sheet (in thousands of dollars) appear below: Sales on account during the year totaled $1,440 thousand. Cost of goods sold was $890 thousand. Required: Compute the following for Year 2: Working capital. Current ratio. Acid-test ratio. Accounts receivable turnover. Average collection period. Inventory turnover. Average sale period
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