Matthias Medical manufactures hospital beds and other institutional furniture. The companys comparative balance sheet and income statement for 2012 and 2013 follow.

Matthias Medical Comparative Balance Sheet As of December 31

2013 2012

Assets

Current assets

Cash $387,000 $417,400

Accounts receivable, net 1,075,000 776,500

Inventory 727,000 681,100

Other current assets 381,350 247,050

Total current assets 2,570,350 2,122,050

Property, plant, & equipment, net 8,651,835 8,439,645

Total assets $11,222,185 $10,561,695

Liabilities and Stockholders Equity

Current liabilities $3,162,000 $2,846,000

Long-term debt 3,702,600 3,892,600

Total liabilities 6,864,600 6,738,600

Preferred stock, $5 par value 58,950 58,900

Common stock, $0.25 par value 104,650 103,900

Retained earnings 4,193,985 3,660,295

Total stockholders equity 4,357,585 3,823,095

Total liabilities and stockholders equity $11,222,185 $10,561,695

Matthias Medical Comparative Income Statement and Statement of Retained Earnings For the Year

2013 2012

Sales revenue (all on account) $10,177,300 $9,613,900

Cost of goods sold 5,613,000 5,298,700

Gross profit 4,564,300 4,315,200

Operating expenses 2,840,300 2,634,200

Net operating income 1,724,000 1,681,000

Interest expense 300,300 308,650

Net income before taxes 1,423,700 1,372,350

Income taxes (30%) 427,110 411,705

Net income $996,590 $960,645

Dividends paid Preferred dividends 29,500 29,550

Common dividends 433,400 413,100

Total dividends paid 462,900 442,650

Net income retained 533,690 517,995

Retained earnings, beginning of year 3,660,295 3,142,300

Retained earnings, end of year $4,193,985 $3,660,295

Calculate the following liquidity ratios for 2013. (If working capital is negative then enter with a negative sign preceding the number or parenthesis, e.g. -15,000 or (15,000). Round all answers except working capital to 2 decimal places, e.g. 2.55.)

a. Working capital $

b. Current ratio

c. Acid-test ratio

d. Accounts receivable turnover times

Calculate the following liquidity ratios for 2013. (Round average collection period to 0 decimal place, e.g. 25 and inventory turnover ratio to 2 decimal places, e.g. 5.12. Use 365 days for calculation.)

a. Average collection period days

b. Inventory turnover times

Calculate average days to sell inventory for 2013. (Round answer to 0 decimal places, e.g. 25. Use 365 days for calculation.)

Average days to sell inventory days