1. Payables Turnover (use average accounts payable)
2. Average Collection Period (in days) (Also called Receivables Period or Days Sales in Receivables)

1) Use the Income Statement and Balance Sheet to calculate the most important 2014 working capital ratios. 2013 2013 2014 $ $ Current assets Cash Accounts receivable Inventory Total 74 $ 165 393 632 $ Hampton Bay 2013 and 2014 Balance Sheets ($ millions) 2014 Current liabilities 98 Accounts payable 178 Notes payable 422 Total 698 Long-term debt Owners' equity Common stock and 2,880 paid-in surplus Retained earnings Total 312 $ 231 543 $ 531 $ 344 196 540 457 $ $ $ Fixed assets Net plant and equipment $ 2,731 $ $ 500 $ 1,799 $ 2,299 $ 550 2,041 2,591 $ Total assets $ 3,363 $ 3,578 Total liabilities and equity $ 3,373 $ 3,588 Hampton Bay 2014 Income Statement Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $ $ $ $ 2,311 1,244 276 791 141 650 187 463 $ $ $ Dividends Additions to retained earnings 121 342