Selected financial data for Amberjack Corporation follows. Sales Year 1 ($ thousands) Year 2 ($ thousands) 470,317 333,234 Cost of goods sold 259,231 351,404 Net income (165,084) (404,509) Cash flow from operations (60,131) (22,283) Cash 342,180 270,122 Marketable securities 343,002 37,900 Accounts receivable 22,221 36,548 Inventories 6,603 73,106 Total current assets 714,006 417,676 Accounts payable 29,908 23,758 Accrued liabilities 45,550 125,851 Total current liabilities 75,458 149,609 a. Calculate the current and quick ratio at the end of each year. Note: Round your answers to 1 decimal place. b. Assuming a 365-day year for all calculations, compute the following: i. The collection period each year based on sales. ii. The inventory turnover and the payables period each year based on cost of goods sold. iii. The days' sales in cash each year. iv. The gross margin and profit margin each year. Note: Round your answers to 1 decimal place. Negative answers should be indicated by parentheses. 1. Current ratio Answer is not complete. Year 1 9.6 9.5 Year 2 2.8 1. Quick ratio 2a. Collection period 2.3 28.1 x 2b. Inventory turnover (X) 38.5 x 4.7 2b. Payables period (days) 24.3 x 2c. Days' sales in cash 243.7 x 2d. Gross margin 2d. Profit margin 8.0 % 25.0 % (58.0) % (86.8) %