-Mullan restaurant acquired the following financial data from its balance sheet in 2012:

Inventory= $150,000 Current Assets = $350,000 Quick Ratio= 1.60

Depending on the data, what were Mullan's current liabilities in 2012?

-Imagine that Sunshine Resorts had its accounts receivable turnover as 18.11, 25.30, and 16.02 times in 2006, 2007, and 2008, respectively. Based on the annual financial data, which one of the following statements does not explain the accounts receivable turnover trend from 2006 to 2008 for Sunshine Resorts?

a) 16.02 indicates that the total revenue for the year 2008 was 16.02 times less the average receivables

b) The management of Sunshine Resort was able to convert the resort's accounts receivables 16.02 times in 2008 and it gets worse when compared to the turnover data in year 2007

c) In 2007, the accounts receivable turnover of 25.30 shows that the management of Sunshine Resorts was successful with regard to investment in productive accounts receivable. It is the highest in 2007

d) None of the abov