The financial statements of Hernandez & Son, Inc., include the following items:

Requirements
Compute the following ratios for the current year:
(a) Current ratio,
(b) Quick ratio,
(c) Cash conversion cycle,
(d) Accounts receivable turnover,
(e) Inventory turnover,
(f) Gross profit percentage, and
(g) Net income percentage.
Round all calculations to two decimal places, days to full days, and percentages to the nearest tenth of a percent. Assume all sales on credit.

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Current Year Previous Year Balance Sheet $ 19,000 $ 33,000 35,000 72,000 42,000 11,000 193,000 36,000 Cash. Short-Term Investments . 22,000 58,000 55,000 9,000 163,000 45,000 Accounts Receivable, Net. Inventory. Prepaid Expenses. Total Current Assets. Accounts Payable. 90,000 95,000 Total Current Liabilities . Income Statement Net Sales. $475,000 Cost of Goods Sold 290,000 55,000 Net Income.