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Part 3: Sample Test Problems 1) Sun & Sand Sports Company has accounts payable of...

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Part 3: Sample Test Problems 1) Sun & Sand Sports Company has accounts payable of $1,221,669, cash of $677,423, inventory of $2,312,478, accounts receivable of $845,113, and networking capital of $2,297,945. What are the company's current ratio and quick ratio? 2) Gulf Airlines has total operating revenues of S6.53 million on total assets of $11.337 million. The company's property, plant, and equipment, including ground equipment and other assets, are listed at a historical cost of $11.921 million, while its accumulated depreciation and amortization amount to $3.198 million. What are Gulf's total asset turnover and fixed asset turnover ratios

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