1. Use the Income Statement and Balance Sheet to calculate the most important 2014 working capital ratios.

1. Quick Ratio
2. Current Ratio
3. Cash Ratio
4. Receivables Turnover (use average accounts receivable)
5. Inventory Turnover (use average inventory)
6. Payables Turnover (use average accounts payable)
7. Average Collection Period (in days) (Also called Receivables Period or Days Sales in Receivables)
8. Inventory Period
9. Payables Period
10. Operating Cycle
11. Cash Cycle
12. Return on Equity
13. Cash Collections from Customers
14. Cash Paid to Suppliers

Hampton Bay 2013 and 2014 Balance Sheets ($ millions) 2014 2013 2014 2013 Current liabilities Current assets 74 $ Accounts payable Cash 98 312 344 Notes payable Total Accounts receivable 165 178 231 196 2$ Inventory 393 422 543 540 Long-term debt Owners' equity 632 $ Total 531 $ 698 457 Fixed assets Common stock and Net plant and equipment 2$ 2,731 $ paid-in surplus Retained earnings 2,880 500 550 %24 2,041 1,799 Total 2,299 2,591 Total assets Total liabilities and equity 3,363 $ 3,373 $ 3,578 3,588 Hampton Bay 2014 Income Statement Sales 2,311 Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income 1,244 276 2$ 791 141 650 187 463 Dividends Additions to retained earnings 121 342 %24