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Page 11 of 12 Part D- Unit 7 - Financial Analysis for Decision Making Bradley Corporation had the following comparative current assets and current liabilities: Dec. 31, 2021 Dec. 31, 2020 Current assets Cash $30,000 $ 30,000 40,000 10,000 Temporary investments Accounts receivable 55,000 95,000 Inventory 110,000 90,000 35,000 20,000 Prepaid expenses Total current assets $270,000 $245,000 Accounts payable $120,000 $110,000 Salaries payable 40,000 30,000 Income tax payable 20,000 15,000 Total current liabilities $180,000 $155,000 During 2021, credit sales and cost of goods sold were $450,000 and $250,000, respectively. Instructions: Calculate the following liquidity measures for 2021: (2 marks each, total of 12 marks a) Current ratio b) Working capital c) Quick ratio Current liabilities d) Receivables turnover e) Inventory turnover f) Collection period Page 12 of 12