Vision Equipment reported the following items on February 28, 2015 (amounts in thousands, with last year's amounts also given as needed):

Requirements
a. Compute Vision Equipment's (a) quick ratio and (b) accounts receivable turnover for 2015.
b. Evaluate each ratio value as strong or weak. Assume Vision Equipment sells on terms of net 30.

Transcribed Image Text:

Accounts Payable. Cash . Inventory: February 28, 2015. February 28, 2014 Net Credit Sales Long-term Assets Long-term Liabilities. $ 449 215 Accounts Receivable, Net: February 28, 2015 . February 28, 2014. Cost of Goods Sold Short-term Investments. Other Current Assets. Other Current Liabilities $ 220 150 1,200 165 190 160 1,930 410 10 90 145