StarrKnight Corporation's Balance Sheet and Income Statement are shown below:

BALANCE SHEET

(in thousands of dollars)

ASSETS 2008 2007

Current Assets

Cash $21,113 $19,930

Receivables 7,336 3,275

Inventories 25,135 24,270

Total $53,584 $47,475

Fixed Assets 25,767 19,720

Total Assets $79,351 $67,195

LIABILITIES

Current Liabilities 2008 2007

Acount Payable $9,493 $7,273

Notes Payable 429 416

Other 3990 3180

Total $13,912 $10,869

Long-term Liabilities 7,796 6,088

Stockholder's Equity 57,643 50, 238

Total Liability and Equity $79,351 $67,195

INCOME STATEMENT

(In thousands of dollars)

2008 2007

Net Sales $113,260 $96,695

Cost of Goods Sold 75,586 65,039

Other Operating Expenses 30,998 26,208

Operating Profit $6,676 $5,448

Other Income 7,061 6,280

Interest 658 520

Tax 3,924 3,362

Net Profit $9,155 $7,846

Dividends $460 $441

Retained Earnings $8,695 $7,405

(all sales and purchases are credit)

1. The inventory turnover ratio for 2008 for StarrKnight Corporation is (use average inventory): A. 2.96 B. 3.06 C. 3.17 D. 5.87 E. 6.05

2. The inventory period for 2008 for StarrKnight Corporation is (use average inventory): A. 60.73 days B. 62.18 days C. 115.14 days D. 119.28 days E. 123.31 days

3. StarrKnight Corporation's accounts receivable turnover ratio for 2008 is (use average accounts receivable): A. 2.88 B. 15.43 C. 21.35 D. 29.53 E. 34.58

4. StarrKnight Corporation's days in receivable for 2008 is (use average accounts receivable): A. 10.56 days B. 12.36 days C. 23.66 days D. 17.10 days E. 126.74 days

5. StarrKnight Corporation's accounts payable deferred period for 2008 is (use average payables): A. 7.75 B. 7.96 C. 8.94 D. 9.02 E. 10.39