Finance 1 (503101) Homework #2 Soft company has the following financial information: Total assets $15,000,000 Current assets 40% of the total assets Total equity $9,500,000 Long term debt 60% of the total liabilities Accounts payable 30% of the current liabilities Inventory 35% of the current assets Cogs $35,000,000 Gross profit $20,000,000 Accounts receivable $1,500,000 Find: 1. Current ratio. 2. Quick ratio. 3. Inventory turnover. 4. Average age of inventory. 5. Receivable collection period. 6. Average payment period. 7. Total assets turnover