Shown are selected financial data for Another World and Imports, Incorporated, at the end of the current year. Another World Imports, Incorporated Net credit sales $675,000 $560,000 Cost of goods sold 504,000 400,000) Cash 53,000 22,000 Accounts receivable (net) 75,000 70,000 Inventory #4,000 160,000 Current liabilities 105,000 100,000 Assume that the year-end balances shown for accounts receivable and for inventory approximate the average balances of these items throughout the year. Required: a. For each of the two companies: 1. Compute the working capital. 2. Compute the current ratio Note: Round your answers to 1 decimal place. 3. Compute the quick ratio. Note: Round your answers to 1 decimal place. 4. Compute the number of times inventory turned over during the year and the average number of days required to turn over inventory. Note: Round your answers to the nearest whole number. Use 365 days a year. 5. Compute the number of times accounts receivable turned over during the year and the average number of days required to collect accounts receivable. Note: Round your answers to the nearest whole number. Use 365 days a year. 6. Compute the operating cycle. Note: Round your intermediate and final answers to whole numbers. Another World Imports, Incorporated a-1. Working capital 2. Current ratio a-3. Quick ratio to 1 to 1 to 1 101 a-4 Number of times inventory turmed over during the year times Simes 4. Average number of days required to tum over inventory days days 5. Number of Simes accounts receivable tumed over times Simes a-5. Average number of days required to collect accounts receivable a-6. Operating cycle days days days days b. To which company would you prefer to sell $25,000 in merchandise on a 30-day open account? Preferred company