Question -
Balance Sheet: 2010 2009
Cash $27,000 $33,000
Short-term investments 22,000 28,000
Net receivables 54,000 72,000
Inventory 65,000 42,000
Prepaid expenses 7,000 9,000
Total current assets 175,000 184,000
Total current liabilities 87,500 92,000
Income Statement:
Net credit sales $554,800
Cost of goods sold 331,700
1. What is the current ratio for 2010?
2. What is the quick ratio for 2010?
3. What is the inventory turnover for 2010?
4. What is the accounts receivable turnover for 2010?
Please show all your work, not just the answer.