Selected financial data from North Company and South Company at the end of the current year is as follows: NORTH CO. SOUTH CO. Net sales (all on credit) $960,000 $595,000 COGS 840,000 412,000 Cash 24,000 35,000 Account Receivable (net) 120,000 70,000 335,000 Inventory Current Liability 80,000 70,000 150,000 Assume that the year-end balances shown for the account receivable and inventory also represent the average balance of these accounts throughout the year. 1. Compute the following for each company: Working Capital Current Ratio Quick Ratio Number of times inventory turned over during the year and the average number of days required to turn over inventory. Number of times account receivable turned over during the year and the average number of days required to turn over account receivable. Operating Cycle. 2. From the view point of a short-term creditor comment upon the quality of each company's working capital and quick ratio. To which company would you prefer to sell $50,000 in goods on account on a 30 days credit period and why