Selected financial data for Amberjack Corporation follows. Sales Year 1 ($ thousands) 277,161 Year 2 ($ thousands) 465,381 Cost of goods sold 255,211 347,324 Net income (161,064) (404,109) Cash flow from operations (59,635) (21,383) Cash 341,780 269,622 Marketable securities 342,506 37,500 Accounts receivable 21,737 36,048 Inventories 6,551 72,706 Total current assets 712,574 415,876 Accounts payable 29,508 23,358 Accrued liabilities 45,054 125,451 Total current liabilities 74,562 148,809 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. Answer is complete but not entirely correct. 1. Current ratio 1. Quick ratio 2a. Collection period 2b. Inventory turnover (X) 2b. Payables period (days) 2c. Days' sales in cash 2d. Gross margin 2d. Profit margin Year 1 9.6 9.5 28.6 42.4 x Year 2 2.8 2.3 28.3 6.5 x 42.2 29.0 x 24.5 28.0 x (58.1) 7.9 % % 25.4 % (86.8) %