Gildan Activewear Inc. is principally in the business of manufacturing and selling activewear, socks, and underwear. Exhibits 9-9A and B contain the statements of financial position and statements of income and comprehensive income from Gildan€™s 2013 annual report.

Required:
a. Calculate the company€™s working capital for 2013 and 2012.
b. Calculate the current and quick ratios for 2013 and 2012 and comment on any trends you noticed.
c. Calculate the accounts payable turnover ratio and accounts payable payment period for the company.

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GILDAN ACTIVEWEAR INC.'S 2013 CONSOLIDATED STATEMENTS OF FINANCIAL POSITION GILDAN ACTIVEWEAR INC. CONSOLIDATED STATEMENTS OF FINANCIAL POSITION in thousands of U.S. dollars) September 29, 2013 September 30, Current assets: Cash and cash equivalents (note 6) Trade accounts receivable (note 7) Income taxes receivable Inventories (note 8) Prepaid expenses and deposits Assets held for sale (note 18) Other current assets 255,018 700 595,794 14,959 5,839 11,034 980,712 $97,368 70,410 257,595 353 553,068 14,451 8,029 8,694 912,600 Total current assets Non-current assets: Property, plant and equipment (note 9) Intangible assets (note 10) Goodwill (note 10) Investment in joint venture Deferred income taxes (note 19) Other non-current assets 552,437 259,981 143,833 12,126 4,471 10,989 983,837 $ 1,896.437 655,869 247,537 150,099 1,443 7,991 1,062,939 S 2,043,651 Total non-current assets Total assets September 29, 2013 September 30, Current liabilities: 289,414 256,442 Accounts payable and accrued liabilities Total current liabilities Non-cument liabilities: 289,414 256,442 Long-term debt (note 11) 18,486 16,325 34,811 324,225 181,000 19,612 13,042 213,654 470,096 Employee benefit obligations(note 12) Provisions (note 13) Total non-current liabilities Total liabilities Commitnents, guarantees and contingent iabilities (note 24) Equity: Share capital Contributed surplus Retained earnings Accumulated other comprehensive income 101,113 25,579 1,306,724 075 1,426,341 $2,043,651 1,896,437 107,867 28,869 1,583,346 (656) 1,719,426 Total equity attributable to shareholders of the Company Total liabilities and equity GILDAN ACTIVEWEAR INC.'S 2013 CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME GILDAN ACTIVEWEAR INC. CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME Years ended September 29, 2013 and September 30, 2012 in thousands of US. dollars, except per share data) 2013 $ 1,948,253 1,552,128 396,125 226,035 14,962 155,128 Net sales Cost of sales Gross profit Selling, general and administrative expenses (note 17(a) Restructuring and acquisition-related costs (note 18) Operating income Financial expenses, net note 15(c)) Equity earnings in investment in joint venture Earnings before income taxes Income tax expense (recovery (note 19) Net earnings Other comprehensive income (loss), net of related income taxes (note 15(d): $2,184,303 1,550,266 634,037 282,563 8,788 342,686 12,013 (46) 330,719 10,541 320,178 11,598 (597) 144,127 (4,337) 148,464 Cash flow hedges Actuarial gain on employee benefit abligations 6,419 436 6,855 6,399) 323 (6,076) income 327,033 142,388