Partial comparative balance sheet and income statement information for Smith Company is as follows:

In 2009, the year-end balances for Accounts Receivable and Inventory were $64,800 and $102,400, respectively. Accounts Payable was $61,200 in 2009 and is the only current liability. Compute the current ratio, quick ratio, receivable turnover, days’ sales uncollected, inventory turnover, days’ inventory on hand, payables turnover, and days’ payable for each year. (Round computations to one decimal place.) Comment on the change in the company’s liquidity position.

2011 2010 $ 27,200 $ 20,800 34,400 Cash Markctable securitics 14,400 89,600 108,800 $240,000 $ 80,000 $645,120 435,200 $209,920 Accounts reccivable (net) Inventory Total current assets 71,200 99,200 $225,600 $ 56,400 $441,440 406,720 $ 34,720 Accounts payable Net sales Cost of goods sold Gross margin