Excerpts from Stepney Corporation's most recent balance sheet (in thousands of dollars) appear below:

	Year 2		Year 1
Current assets:
Cash	$	220	$	120
Accounts receivable		220		230
Inventory		100		140
Prepaid expenses		56		66
Total current assets	$	596	$	556
Current liabilities:
Accounts payable	$	150	$	150
Accrued liabilities		60		86
Notes payable, short term		66		56
Total current liabilities	$	276	$	292

Sales on account during the year totaled $1,420 thousand. Cost of goods sold was $880 thousand.

Required:
a.	Compute the following working capital for Year 2. (Enter your answer in thousands of dollars, i.e., 100,000 should be entered as 100. Omit the "$" sign in your response.)

Working capital

$

b.	Compute the following current ratio for Year 2. (Round your answer to 2 decimal places.)

Current ratio

c.	Compute the following acid-test ratio for Year 2. (Round your answer to 2 decimal places.)

Acid-test ratio

d.	Compute the following accounts receivable turnover for Year 2. (Round your answer to 2 decimal places.)

Accounts receivable turnover

e.	Compute the following average collection period for Year 2. (Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 1 decimal place.)

Average collection period

days

f.	Compute the following inventory turnover for Year 2. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Inventory turnover

$

g.	Compute the following average sale period for Year 2. (Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 1 decimal place.)

Average sale period

days

rev: 03_02_2015_QC_CS-9044