1:28 PM Assignment NAME: SCORE: SECTION: PROFESSOR: Problem #3 Measuring the Ability to Pay Current Liabilities The following information was taken from the statement of financial position of Blanche Corporation: Cash P13,250 Accounts Receivable (net) 13 256 33,000 Merchandise Inventory 40,000 + 33, 000 Prepaid Expenses 9,950 40, 10 Accounts Payable 25,200 Accrued Payables 1,800 Notes Payable (due in 6 months) 10,000 84 1 250 - Required: Calculate the working capital, current ratio and quick ratio. mixes - Pr Problem #4 Measuring the Ability to Sell Inventory and Collect Receivables You have been assigned the task of evaluating Gumban, Inc.'s management of merchandise inventory and receivables. You decided that inventory turnover, accounts receivable turnover, and average age of receivables statistics will prove valuable in your analysis. The following data are available from Gumban's annual report: Merchandise Inventory: 291, 200 Jan. 1 P 245,000 Dec. 31 375,000 Accounts Receivable: Jan. 1 250,000 Dec. 31 297,000 Cost of Goods Sold 2,480,000 Cash Sales 1,000,000 Total Sales 5,100,000 Gumban's Credit Terms Net 30 days Required: 1. Calculate inventory turnover, accounts receivable turnover, and average age of receivables. 2. In your opinion, is Gumban doing a good job in managing inventory and receivables? Explain. NORIBEL VALLEJOS mrooms.net/mod/assign/view.php?id=1292818