The financial statements of Big Island, Inc., include the following items:

Requirement
1. Compute the following ratios for the current year:
(a) Current ratio,
(b) Quick ratio,
(c) Cash conversion cycle,
(d) Accounts receivable turnover,
(e) Inventory turnover,
(f) Gross profit percentage,
(g) net income percentage. Round all calculations to two decimal places, days to full days, and percentages to the nearest tenth of a percent. Assume all sales oncredit.

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Current Year Previous Year Balance Sheet Cash Short-Term Investments Accounts Receivable, Net Inventory Prepaid Expenses Total Current Assets Accounts Payable Total Current Liabilities 11,000 65,000 80,000 7,500 187,500 85,000 125,000 24,000 42,000 36,000 75,000 60,000 9,000 222,000 50,000 90,000 Income Statement Net Sales Cost of Goods Sold Net Income $476,000 357,000 48,000