Excerpts from Dinis Corporation's Most Recent Balance Sheet (In Thousands

Excerpts from Dinis Corporation's most recent balance sheet (in thousands of dollars) appear below:
Sales on account during the year totaled $1,240 thousand. Cost of goods sold was $770 thousand.
Required:
Compute the following for Year 2:
a. Working capital.
b. Current ratio.
c. Acid-test ratio.
d. Accounts receivable turnover.
e. Average collection period.
f. Inventory turnover.
g. Average sale period.

Correct Answer:

Verified

a. Working capital = Current assets - Cu...

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