Cost of goods sold Selected financial data for Amberjack Corporation follows. Sales Year 1 ($) thousands)...

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Cost of goods sold Selected financial data for Amberjack Corporation follows. Sales Year 1 ($) thousands) Year 2 ($ thousands) 471,551 352,424 334,234 260,236 Net income (166,089) (404,609) Cash flow from operations (60,255) (22,508) Cash 342,280 270,247 Marketable securities 343,126 38,000 Accounts receivable 22,342 36,673 Inventories 6,616 73,206 Total current assets 714,364 418,126 Accounts payable 30,008 23,858 Accrued liabilities 45,674 125,951 Total current liabilities 75,682 149,809 a. Calculate the current and quick ratio at the end of each year. Note: Round your answers to 1 decimal place. b. Assuming a 365-day year for all calculations, compute the following: i. The collection period each year based on sales. ii. The inventory turnover and the payables period each year based on cost of goods sold. iii. The days' sales in cash each year. iv. The gross margin and profit margin each year. Note: Round your answers to 1 decimal place. Negative answers should be indicated by parentheses. 1. Current ratio 1. Quick ratio 2a. Collection period 2b. Inventory turnover (X) 2b. Payables period (days) 2c. Days' sales in cash 2d. Gross margin 2d. Profit margin Year 1 Year 2 % % % % Cost of goods sold Selected financial data for Amberjack Corporation follows. Sales Year 1 ($) thousands) Year 2 ($ thousands) 471,551 352,424 334,234 260,236 Net income (166,089) (404,609) Cash flow from operations (60,255) (22,508) Cash 342,280 270,247 Marketable securities 343,126 38,000 Accounts receivable 22,342 36,673 Inventories 6,616 73,206 Total current assets 714,364 418,126 Accounts payable 30,008 23,858 Accrued liabilities 45,674 125,951 Total current liabilities 75,682 149,809 a. Calculate the current and quick ratio at the end of each year. Note: Round your answers to 1 decimal place. b. Assuming a 365-day year for all calculations, compute the following: i. The collection period each year based on sales. ii. The inventory turnover and the payables period each year based on cost of goods sold. iii. The days' sales in cash each year. iv. The gross margin and profit margin each year. Note: Round your answers to 1 decimal place. Negative answers should be indicated by parentheses. 1. Current ratio 1. Quick ratio 2a. Collection period 2b. Inventory turnover (X) 2b. Payables period (days) 2c. Days' sales in cash 2d. Gross margin 2d. Profit margin Year 1 Year 2 % % % %

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a Calculation of current and quick ratios at the end of each year Current Ratio Total Current Assets ... View the full answer