Question No

Question No. 1 if a firm has sales of $25,698,000 a year, and the

average collection period for the industry is 45 days, what should this firm's accounts receivables be if the firm is comparable to the industry?
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Question No. 2A firm with sales of $500,000 has average inventory of $200,000. The industry average for inventory turnover is four times a year. what would be the reduction in inventory turnover if this firm were to achieve a turnover comparable to the industry average?
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Given the following information, compute the current and quick ratios: Cash 100,000 ; Accounts Receivables 375,000; Inventory 485,000; Current Liabilities 498,000; Long-Term Debt 610,000; Equity 598,000