please refer to the income and balance sheet below for reference to the 4 questions

MODULE 5: Reflecting upon the Balance Sheet and the Income Statements for 2021 that you prepared in Module 2 of the Case: Q1: What is the company's expected Current Asset level? What is the company's Net Property & Plant level? Q2: Looking at your Income Statement and Balance Sheet from Module 2 what is the projected CompuTech's Average Collection Period in days ? What is the company's Inventory Turnover rate? Q3: If the company wished to exhibit a 30 day receivable average, what would their level of Accounts Receivable become? If they were able to invest the savings at 7% what would their impact on profits be? Q4: If CompuTech's competition is experiencing a 6 X turnover on inventory, is CompuTech matching this performance, and if not what level of inventory should they be displaying? Step 2 $350,000 Amount $177,000 $173,000 Q1: CompuTech Income Statement For year endig December 31, 2021 Sales Raw Materials (Purchases) $175,000 Freight in $2,000 Less: Cost of Goods Sold Gross Profit Less Operating Expenses Wages and Salaries $80,000 Adveristing $3,000 Travel $2,000 Depriciation $38,000 Sales Commission $2,000 Financing Costs $10,000 Total Operating Expenses Operating Income Income Taxes Net Profit/ Loss CompuTech Q2: Balance Sheet For year endig December 31,2021 Assets Amount Liabilities Current Asset Current Liabilities Trade Recievable $35,000 Short term Loan Cash $15,000 Current Payable Prepaid Expenses $5,000 Total Current Liabilities Inventories $50,000 Total Current Assets $105,000 Long term Liabilities Property and Equipment LTD Retirmnt Property Plant $170,000 Less Accumulated de $38,000 Total Liabilities $30,000 $17,000 $47,000 $60,000 $5,000 $112,000 $135,000 $38,000 $13,000 $25,000 Shareholder's Equity Share Capital $100,000 Retained Earnings $25,000 Total Liabilties and ShareHolde $237,000 Total Assets $237,000