Please help with last 3 Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below:Year 2 Year 1Current assets:Cash$162$100Accounts receivable, netInventoryPrepaid expenses1921921421329292Total current assets$588$516Current liabilities:Accounts payable$202$182Accrued liabilities3232Notes payable, short term9282Total current liabilities$326$296Sales on account during the year totaled $1,210 thousand. Cost of goods sold was $810 thousand.Requlred:Compute the following for Year 2:a. Working capital. (Enter your answer in thousands of dollars, I.e., 100,000 should be entered as 100.)b. Current ratio. (Round your answer to 2 decimal places.)C. Acid-test (quick) ratio. (Round your answer to 2 decimal places.)d. Accounts recelvable turnover. (Round your answer to 2 decimal places.)e. Average collection period. (Use 365 days In a year. Round your Intermediate calculatlons to 2 declmals places and your finalanswer to 1 decimal place.)f. Inventory turnover. (Round your answer to 2 decimal places.)g. Average sale perlod. (Use 365 days In a year. Round your Intermedlate calculations to 2 decimals places and your final answerto 1 decimal place.)a. Working capital262b. Current ratio1.80c. Acid-test ratio1.09d. Accounts receivable turnovere. Average collection perioddaysf. Inventory turnoverg. Average sale perioddays

Formula: Average collection period = 365 days / Accounts receivable turnover

Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $162 $100 Accounts receivable, net Inventory Prepaid expenses 192 192 142 132 92 92 Total current assets $588 $516 Current liabilities: Accounts payable Accrued liabilities $202 $182 32 32 Notes payable, short term 92 82 Total current liabilities $326 $296 Sales on account during the year totaled $1,210 thousand. Cost of goods sold was $810 thousand.

Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $162 $100 Accounts receivable, net Inventory Prepaid expenses 192 192 142 132 92 92 Total current assets $588 $516 Current liabilities: Accounts payable Accrued liabilities $202 $182 32 32 Notes payable, short term 92 82 Total current liabilities $326 $296 Sales on account during the year totaled $1,210 thousand. Cost of goods sold was $810 thousand.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 9E: Net Cash Flow from Operating Activities The following are accounting items taken from Tyrone...

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