The financial statements of Advent Co include the following items:

Statement of Financial Position:

Cash ............................................ $ 67,000

Short-term investments ................ 14,000

Trade receivables ............................ 77,000

Inventory ..................................... 92,000

Prepaid expenses.......................... 7,000

Total current assets ...................... 257,000

Total current liabilities................. 118,000

Profit and Loss statement:

Sales revenue .............................. $494,000

Cost of goods sold ....................... 288,000

Required

Compute the following ratios for the current year:

a. Current ratio

b. Accounts payable payment period

c. Receivable collection period