CH 16 E. 7 Partial comparative balance sheet and income statement information for Smith Company is as follows:

2012 2011

Cash 27,200 20,800

Marketable securities 14,40034,400

Accounts recieevable (Net)89,600 71,200

Inventory 108,800 99,200

Total Current Assets 240,000 225,600

Accounts Payable 80,00056,400

Net Sales645,120441,440

Cost of Goods Sold 435,200406,720

Gross Margin 209,92034,720

In 2010, the year-end balances for Accounts Recievable and Inventory were $64,800 and $102,400, respectively. Accounts Payable was $61,200 in 2010 and is the only current liability. Compute the current ratio, quick ratio, recievable 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, including its operating cycle and required days of financing from 2011 to 2012.