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Question 3 of 7 View Policies Current Attempt in Progress Selected comparative financial statement data for Speedway Inc. are shown below. SPEEDWAY INC. Statement of
Question 3 of 7 View Policies Current Attempt in Progress Selected comparative financial statement data for Speedway Inc. are shown below. SPEEDWAY INC. Statement of Financial Position (partial) December 31 (in thousands) 2021 2020 2019 Current assets Cash $ 30 $ 92 $ 60 Trading investments 55 60 40 Accounts receivable, net 681 590 494 Inventory 634 530 577 Prepaid expenses 41 52 29 Question 3 of 7 - / 10 iii Total current assets $ 1,441 $ 1.324 $ 1,200 Total current liabilities $ 885 $ 826 $ 756 Additional information: (in thousands) 2021 2020 2019 Allowance for doubtful accounts $ 50 $ 45 $ 40 Credit sales 4,210 3.927 3,682 Cost of goods sold 2,873 2,641 2.366 Question 3 of 7 - / 10 = Calculate all possible liquidity ratios for 2021 and 2020. (Round current ratio to 2 decimal places e.g. 2.66. Round receivables turnover and inventory turnover to 1 decimal place e.g. 6.2. Round collection period and days sales in inventory to 0 decimal places e.g. 1,266. Enter working capital amounts in thousands e.g. 525.) 2021 2020 Working capital $ $ Current ratio :1 :1 Receivables turnover times times Collection period days days Inventory turnover times times Days sales in inventory days days
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