Consecutive five-year balance sheets and income statements of Anne Gibson Corporation follow:

Required
a. Using year-end balance sheet figures, compute the following for the maximum number of years, based on the available data:
1. Days' sales in receivables
2. Accounts receivable turnover
3. Accounts receivable turnover in days
4. Days' sales in inventory
5. Inventory turnover
6. Inventory turnover in days
7. Operating cycle
8. Working capital
9. Current ratio
10. Acid-test ratio
11. Cash ratio
12. Sales to working capital
b. Using average balance sheet figures, as suggested in the chapter, compute the following for the maximum number of years, based on the available data:
1. Days' sales in receivables
2. Accounts receivable turnover
3. Accounts receivable turnover in days
4. Days' sales in inventory
5. Inventory turnover
6. Inventory turnover in days
7. Operating cycle
8. Working capital
9. Current ratio
10. Acid-test ratio
11. Cash ratio
12. Sales to working capital
c. Comment on trends indicated in short-term liquidity.
(CMAA dapted)

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ANNE GIBSON CORPORATION Balance Sheet December 31, 2005 through December 31, 2009 (Dollars in thousands) Assets: Current assets 2009 2008 2007 2006 2005 47,200 46,000 S 45,000 S 44,00043,000 3,000 Marketable securities Accounts receivable, 2,000 2,500 3,000 less allowance of $1,000, December 31, 2009; $900, December 31,2008 $900, December 31, 2007; $800, December 31, 2006; $1,200, December 31, 2005 Inventories Prepaid expenses 131,000 128,000 127,000 126,000 125,000 122,000 124,000 126,000 127,000 125,000 3.000 305,200 303,000 303,000 301,000 297,000 240,000 239,000 238,000 237,500 234,000 7.000 S555,200 $550,000 $548,000 S545,000 S538,000 Total current assets Property, plant and equipment, net 8,00074000 Other assets Total assets Liabilities and stockholders' equity: 10,000 Current liabilities Accounts payable Accrued compensation Income taxes 72,000 26,000 73,000 S 75,000 25,000 76,000 S 78,500 26,000 11,000 4.500 115,500 26,000 Total current liabilities 109.500 110,000 113,500 11 58,000 23,000 Long-term debt Deferred income taxes Stockholders' equity Total liabilities and 68 25,000 60,000 24,000 35,000 21,000 348.500 339.300 stockholders' equity $555,200 S550,000 S548,000 $545,000 $538,000 ANNE GIBSON CORPORATION Statement of Earnings For Years Ended December 31, 2005-2009 (In thousands, except per share) 2008 2007 2005 $880,000 $910,000 $840,000 $825,000 $820,000 Cost of goods sold Gross profit Selling and administrative 000 760,000 140,000 150,000 704.000 695000 6 136,000 130,000 128,000 53,000 6,700 52,000 5.900 49,800 5,900 49,000 6,000 ex Interest expense Earnings from continuing operations 74,300 23,000 S 54300 64,600 S52,200 S 51300 S 1.40 S1.65 1.38 36 80,300 26,000 80,200 28,000 73,000 22,500 50,500 1.33 before income taxes taxes 27,500 Net earnings Earnings per share