Question 5 (3.5 points)

For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $31,000, accounts receivable $105,000, inventories $81,000, prepaid expenses $22,000, accounts payable $87,000, and accrued expenses $59,000. Use this information to determine the Current Ratio. (Round & enter your answers to one decimal place.)

Question 6 (3.5 points)

For the FY 2018, Frederick Company had net sales of $1,150,000 and net income of $55,000, paid income taxes of $20,000, and had before tax interest expense of $20,000. Use this information to determine the Times Interest Earned Ratio. (Round your answers to one decimal place)

Question 7 (3.5 points)

The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 & 2018 (all balances are normal):

Item/Account	2019	2018
Accounts Receivable	$30,000	$38,000
Inventory	42,000	38,000
Net Sales (all credit)	410,000	350,000
Cost of Goods Sold	154,000	152,000
Net Income	27,200	24,800

Use this information to determine the accounts receivable average collection period for FY 2019. (Use 365 day year. Round your answers to one decimal place.)