Question: Refer to the data in Exercise 16-2 for Heritage Antiquing Services. Required: Compute the following financial data for short-term creditors for this year: 1. Working

Refer to the data in Exercise 16-2 for Heritage Antiquing Services.
Required:
Compute the following financial data for short-term creditors for this year:
1. Working capital.
2. Current ratio.
3. Acid-test ratio.
4. Accounts receivable turnover. (Assume that all sales are on account.)
5. Average collection period.
6. Inventory turnover.
7. Average sale period.

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