The financial statements of Vacation, Inc. include the following items:

Requirement
Compute the following ratios for the current year:
(a) Current ratio,
(b) Quick ratio,
(c) Inventory turnover,
(d) Accounts receivable turnover, and
(e) Days€™ sales in accounts receivable.

Transcribed Image Text:

Current Year Previous Year Balance Sheet 37,000 24,000 86,000 47,000 16,000 210,000 90,000 $25,000 10,000 64,000 80,000 4,000 183,000 95,000 Accounts Receivable, Net. Inventory.. Prepaid Expense.... Total Current Liabilities... Income Statement $475,000