Selected data for Stick's Design are given as of December 31,Year 1 and Year 2 (rounded to the nearest hundredth).
Required: Compute the following:
a.________ Current ratio for Year 2.
b.________ Acid-test ratio for Year 2.
c.________ Accounts receivable turnover for Year 2.
d.________ Average collection period for Year 2.
e.________ Inventory turnover for Year 2.
Correct Answer:
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b.1.33:1
...
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