The data presented below show actual figures for selected accounts of Potrero Company for the fiscal year ended May 31, Year 1, and selected budget figures for the Year 2 fiscal year. Potrero's controller is in the process of reviewing the Year 2 budget and calculating some key ratios based on the budget. Potrero Company monitors yield or return ratios using the average financial position of the company. 5/31/Year 2 5/31/Year 1 Current assets $210,000 $180,000 Noncurrent assets 275,000 255,000 Current liabilities 78,000 85,000 Long-term debt 75,000 30,000 Common stock ($30 par value) 300,000 300,000 Retained earnings 32,000 20,000 Year 2 Operations Sales* $350,000 Cost of goods sold 160,000 Interest expense 3,000 Income taxes (40% rate) 48,000 Dividends declared and paid in Year 2 60,000 Administrative expense 67,000 *All sales are credit sales. Current Assets 5/31/Year 2 5/31/Year 1 Cash $ 20,000 $10,000 Accounts receivable 100,000 70,000 Inventory 70,000 80,000 Other 20,000 20,000 A. Calculate the following ratios for fiscal Year 2 for Potrero, Co., based on the financial statement information presented in the scenario. a. Current ratio b. Receivables turnover ratio c. Inventory turnover period