$23$:$11$

$2.$ The following is a condensed balance sheet for the Albini tree Corporation.

Albin tree Corporation

Balance Sheet as of December $31,2010$

Assets

$($$$000)$

Cash

$50,000$

Accounts receivable $90,000$

Inventory

$65,000$

Land

$130,000$

Property, plant, and equipment $($net$)95,000$

Total assets

$430,000$

Liabilities

Accounts payable $25,000$

Taxes payable $65,000$

Accrued wages payable $50,000.$

Bonds payable $($due in $2020)150,000$

Total liabilities $290,000$

Shareholders' equity

Common shares $80,000$

Retained earnings $60,000.$

Total shareholders' equity $140,000$

Total liabilities and shareholders' equity $430,000$

Sales totalled $$500$ million, with $90\%$ on credit; gross profit was $$220$ million; purchases were $$300$ million, with $70\%$ on credit; and Albini tree employed $4,000$ employees.

Required:

Calculate the following:

$($a$)$Current ratio

$($b$)$Acid test ratio

$($c$)$Sales revenue per employee

$($d$)$Leverage ratio

$($e$)$Sales revenue to capital employed.

$($f$)$ Inventory at the start of the year.

$($g$)$Average inventory turnover period

$($h$)$Gross profit margin

$($i$)$Average collection period for receivables

$($j$)$Average payment period for payables.