Matthias Medical manufactures hospital beds and other institutional furniture. The companys comparative balance sheet and income statement

Matthias Medical manufactures hospital beds and other institutional furniture. The company’s comparative balance sheet and income statement for 2012 and 2013 follow.

Required
Calculate the following liquidity ratios for 2013.
a. Working capital
b. Current ratio
c. Acid-test ratio
d. Accounts receivable turnover
e. Average collection period
f. Inventory turnover
g. Average days to sellinventory

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Matthias Medical Comparative Balance Sheet As of December 31 2013 2012 Assets Current assets $ 382,600 1,065,370 717,000 381,300 2,546,270 8,678,000 $11,224,270 Cash Accounts receivable, net Inventory Other current assets $ 417,400 776,400 681,000 Total current assets Property, plant, & equipment, net 2,121,800 8,440,100 $10,561,900 Total assets Liabilities and Stockholders' Equity Current liabilities Long-term debt 3,162,800 3,702,600 6,865,400 58,900 104,600 4,195,370 4,358,870 $11,224,270 $ 2,846,000 3,892,600 6,738,600 58,900 103,800 3,660,600 3,823,300 $10,561,900 Total liabilities Preferred stock, $5 par value Common stock, $0.25 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Matthias Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2013 2012 $10,177,200 5,611,600 4,565,600 2,840,200 1,725,400 300,300 1,425,100 427,530 $ 997,570 $9,613,900 5,298,700 4,315,200 2,634,100 1,681,100 Sales revenue (all on account) Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Dividends paid 1,372,500 411,750 $960,750 29,450 413,000 442,450 518,300 3,142,300 $ 3,660,600 Preferred dividends Common dividends Total dividends paid 29,450 433,350 462,800 534,770 3,660,600 $ 4,195,370 Net income retained Retained earnings, beginning of year Retained earnings, end of year