QUESTION 5 (14 MARKS) Financial ratios Shown below are some key figures from the balance sheets of Minuteman Gas Company for two successive years: Dec 31, 2015 Dec 31, 2014 Net credit sales $ 675,000 $ 560,000 Cost of goods sold 504,000 480,000 Cash 53,000 22,000 Accounts receivable (net) 75,000 70,000 Inventory 84,000 160,000 Current liabilities 105,000 100,000 For each year, calculate: 5.1. Working capital 5.2. Current ratio 5.3. Quick ratio 5.4. Compute the number of times inventory turned over during the year, and the average number of days required to turn over inventory. 5.5. Compute the number of times accounts receivable turned over during the year and the average number of days required to collect accounts receivable. 5.6. Compute the operating cycle