QUIZ 1, QUESTION 2 ABC COMPANY SELECTED FINANCIAL INFORMATION 2015, 2014, 2013 2015 2014 2013. Current assets. 950,000 850,000 800,000 Current liabilities 525,000 450,000 500,000 Cash 210,000 260,000 245,000 105,000 85.000 75.000 Marketable securities Inventory 375,000 275,000 325,000 Sales 850,000 2 100,000 1 750,000 Cost of Goods sold 250,000 1 50,000 1 250,000 425,000 400,000 Working Capital 180.95% 188.89% Current Ratio Quick Ratio 3.85 4.46 Inventory Turnover Days of Sales outstanding in Receivables Assume: 1. ABCs current assets are comprised of cash, accounts receivable, marketable securities and at the end of each year. 2. 10% of sales are for cash the remainder of sales are on credit. Requirements: Calculate each of the following ratios for 2014 and 2015 in the space below Be sure to show your work, including appropriate formulas. a. Working capital (10 points) b. Current ratio (10 points Quick (Acid Test) ratio (10 points) d. Inventory turnover 10 points) e. Days sales outstanding in receivables (10 points)