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

Requirement
1. 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 oncredit.

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Current Year Previous Year Balance Sheet Cash Short-Term Investments Accounts Receivable, Net Inventory Prepaid Expenses Total Current Assets Accounts Payable Total Current Liabilities 20,000 10,000 90,000 70,000 5,000 195,000 45,000 125,000 $ 40,000 30,000 70,000 50,000 10,000 200,000 40,000 100,000 Income Statement Net Sales Cost of Goods Sold Net Income $600,000 350,000 53,000