Lesson 8 ni B (5 points each for a possible total of 25 points) rt Selected data for Stick's Design are given as of December 31, Year 1 and Year2 (rounded to the nearest hundredth) Year 2 Year 1 $25,000 $30,000 Net Credit Sales Cost of Goods Sold 16,000 Net Income Cash Accounts Receivable 18,000 5000 9800 10000e 3,000 2,000 2,000 3,600 L 600 Inventory 5 Liabilities6,000 5,005600: 83 Compute the following 3, aso00 .33 (1) Current ratio for Year 2. (2) Acid-test ratio for Year 2. 5.uso S Accounts receivable turnover for Year 2, (4) Average collection period for Year 2. (5) Inventory turnover for Year 2 2000 Part C (30 points)