Partial Balance Sheet
		2023	2022
	Cash	$ 5,000	$ 40,000
	Temporary Investments	$ 500	$ 400
	Accounts Receivable	$ 1,000	$ 1,500
	Inventory	$ 2,500	$ 2,000
	Equipment	$ 50,000	$ 25,000
	Building	$ 100,000	$ 75,000
	Accounts Payable	$ 1,500	$ 2,500
	Mortgage Payable	$ 75,000	$ 25,000
Directions:
1. Using the partial Financial Statement above, determine the following: (a) Current Ratio, and (b) Quick Ratio for 2023. Round your answer to two digits to the right of the decimal.
2. Briefly explain how the information in a and b can help a business owner.

	Partial Balance Sheet				Partial Income Statement
		2023	2022			2023	2022
	Cash	$ 5,000	$ 40,000		Sales	$ 500,000	$ 400,000
	Temporary Investments	$ 500	$ 400		Cost of Goods Sold	$ 150,000	$ 100,000
	Accounts Receivable	$ 1,000	$ 1,500		Gross Profit	$ 350,000	$ 300,000
	Inventory	$ 2,500	$ 2,000		Total Expenses	$ 50,000	$ 40,000
	Equipment	$ 50,000	$ 25,000		Net Income	$ 300,000	$ 260,000
	Building	$ 100,000	$ 75,000
	Accounts Payable	$ 1,500	$ 2,500
	Mortgage Payable	$ 75,000	$ 25,000
Directions:
1. Using the partial Financial Statements above, determine the following: (a) Accounts Receivable Turnover, and (b) Number of Days Sales in Receivables for 2023. Round your answer to two digits to the right of the decimal.
2. Briefly explain how the information in a and b can help a business owner.

	Partial Balance Sheet				Partial Income Statement
		2023	2022			2023	2022
	Cash	$ 5,000	$ 40,000		Sales	$ 500,000	$ 400,000
	Temporary Investments	$ 500	$ 400		Cost of Goods Sold	$ 150,000	$ 100,000
	Accounts Receivable	$ 1,000	$ 1,500		Gross Profit	$ 350,000	$ 300,000
	Inventory	$ 2,500	$ 2,000		Total Expenses	$ 50,000	$ 40,000
	Equipment	$ 50,000	$ 25,000		Net Income	$ 300,000	$ 260,000
	Building	$ 100,000	$ 75,000
	Accounts Payable	$ 1,500	$ 2,500
	Mortgage Payable	$ 75,000	$ 25,000
Directions:
1. Using the partial Financial Statements above, determine the following: (a) Inventory Turnover, and (b) Number of Days Sales in Inventory for 2023. Round your answer to two digits to the right of the decimal.
2. Briefly explain how the information in a and b can help a business owner.