End of Chapter Exercise 12.8 Selected financial statement data for Grayson Ltd are presented below. Cash and cash equivalents Receivables (net) Inventory Prepaid expenses Total current assets Total current liabilities End of year ($m) $35 385 673 59 1,152 717 Beginning of year (sm) $94 268 611 49 1,022 663 For the year, net sales were $3,525 million, cost of sales was $2,391 million and cash from operations was $226 million. Required Calculate the current ratio, quick ratio, current cash debt coverage, receivables turnover, average collection period, inventory turnover and average days in inventory. (Round current ratio and quick ratio to 2 decimal places, e.g. 1.24:1. Round current cash debt coverage to 2 decimal places, e.g. 2.54. Round receivable turnover, average collection period, inventory turnover and average days in inventory to 1 decimal place, e.g. 15.2.) Grayson Ltd Current ratio : 1.0 :1.0 times times Quick ratio Current cash debt coverage Receivables turnover Average collection period Inventory turnover Average days in inventory days times days