Account balances at the beginning of the year were: accounts receivable, $170,000, and inventory, $300,000....
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Accounting
Account balances at the beginning of the year were: accounts receivable, $170,000, and inventory, $300,000. All sales were on account Accourt balances at the beginning of the year were: accounts receivable, $170,000, and inventory, $300,000. All sales were on account Required: Compute the following financial data and ratios: 1. Working capital 2. Current ratio. Note: Round your answer to 1 decimal ploce. 3. Acid-test ratio. Note: Round your onswer to 2 decimal places. 4. Debt-to-equity ratio. Note: Round your onswer to 2 decimal places. 5. Times interest earned ratio Note: Round your answer to 2 decimal places. 6. Average collection period. Note: Use 365 doys in o year. Round your intermediate calculations and final answer to 1 decimal ploce. 7. Average sale period. Note: Use 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place. 8. Operating cycle. Note: Use 365 doys in o yeor. Round your intermediate calculations and final answer to 1 decimal place
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