Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2...

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Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash Accounts receivable Inventory Prepaid expenses $ 180 $ 160 180 190 140 180 52 62 Total current assets $ 552 $ 592 Current liabilities: Accounts payable Accrued liabilities Notes payable, short term $ 110 $ 110 100 82 62 52 Total current liabilities $ 272 $ 244 Sales on account during the year totaled $1,380 thousand. Cost of goods sold was $860 thousand. Required: a. Compute the following working capital for Year 2.(Enter your answer in thousands of dollars, Le., 100,000 should be entered as 100.) Working capital b. Compute the following current ratio for Year 2. (Round your answer to 2 decimal places.) Current ratio c. Compute the following acid-test ratio for Year 2. (Round your answer to 2 decímal places.) Acid-test ratio d. Compute the following accounts receivable turnover for Year 2.(Round your answer to 2 decimal places.) Accounts receivable tumover e. Compute the following average collection period for Year 2.(Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 2 decimal places.) Average collection period Days e. Compute the following average collection period for Year 2.(Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 2 decimal places.) Average collection period Days f. Compute the following inventory turnover for Year 2.(Round your answer to 2 decimal places.) Inventory tumover g. Compute the following average sale period for Year 2. (Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 2 decimal places.) Average sale period Days Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash Accounts receivable Inventory Prepaid expenses $ 180 $ 160 180 190 140 180 52 62 Total current assets $ 552 $ 592 Current liabilities: Accounts payable Accrued liabilities Notes payable, short term $ 110 $ 110 100 82 62 52 Total current liabilities $ 272 $ 244 Sales on account during the year totaled $1,380 thousand. Cost of goods sold was $860 thousand. Required: a. Compute the following working capital for Year 2.(Enter your answer in thousands of dollars, Le., 100,000 should be entered as 100.) Working capital b. Compute the following current ratio for Year 2. (Round your answer to 2 decimal places.) Current ratio c. Compute the following acid-test ratio for Year 2. (Round your answer to 2 decímal places.) Acid-test ratio d. Compute the following accounts receivable turnover for Year 2.(Round your answer to 2 decimal places.) Accounts receivable tumover e. Compute the following average collection period for Year 2.(Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 2 decimal places.) Average collection period Days e. Compute the following average collection period for Year 2.(Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 2 decimal places.) Average collection period Days f. Compute the following inventory turnover for Year 2.(Round your answer to 2 decimal places.) Inventory tumover g. Compute the following average sale period for Year 2. (Use 365 days in a year. Round your intermediate calculations to 2 decimals places and your final answer to 2 decimal places.) Average sale period Days

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