Please calculate the following:

a) Accounts Payable Turnover Rate

b) Average Payment Period for Accounts Payable (assuming a 360-day year):

C) The common-size % value for Accounts Payable in 2021:

d) Based on the ratio values that you calculated for ABC Company, are its Accounts Payable ratios performing better or worse than average in 2021? Please describe.

ABC COMPANY, INC. Income Statement for Year Ended December 31, 2021 Sales Revenue Cost of Goods Sold Gross Profit Selling Expense General and Administrative Expense Depreciation Expense Operating Profits (EBIT) Interest Expense Profit Before Taxes Less: Taxes @ 40% Net Profit After Taxes -----2021----- DOLLARS 275,000 182,000 93,000 36,000 28,000 8,000 21,000 7,500 13,500 5,400 8,100 ABC COMPANY, INC. Balance Sheet As of December 31, 2021 ------2021---- DOLLARS ASSETS: Cash Accounts Receivable Inventories Total Current Assets 24,000 68,000 72,000 164,000 Net Fixed Assets TOTAL ASSETS 55,000 219,000 LIABILITIES AND EQUITY: Accounts Payable Notes Payable Accruals Total Current Liabilities 25,000 50,000 29,500 104,500 Long-Term Debt TOTAL LIABILITIES 17,500 122,000 Common Stock at Par Value Paid-in Capital in Excess of Par Value Retained Earnings TOTAL STOCKHOLDERS' EQUITY 5,000 20,000 72,000 97,000 TOTAL LIABILITIES AND EQUITY 219,000