F. Please

rning Ubjective 5: Compute ratios; evaluate turnover, liquidity, and current debt- ing ability) The financial statements of Family News, Inc., include the following items: 2012 2011 Balance sheet: Gash Short-term investments $30089,000 21,000 Net recciva bles77,00080,000 90,00072,000 6,000 17,000 nventory Prepaid epenses. Total currentascts 8,000 245,000 65,000268,000 Total current liabilitics...N131,00090,000 Accounts Payable 55,000 Income statement: Net credit salcs $494,000 $502,000 Cost bf goods sold 276,000 280,000 Requirements 117 1. Compute the following ratios for 2012 353 4 2 y6 a. Current ratio b. Quick (acid test) ratio c. Receivable collection period d. Inventory resident period e. Payable outstanding period . Cash conversion cycle