For the FY 2016, Alpha Company’s balance sheet included the following current items:

For the FY 2016, Alpha Company’s balance sheet included the following current items: cash $40,000, accounts receivable $160,000, inventories $100,000, prepaid expenses $20,000, accounts payable $90,000, and accrued expenses $70,000. Use this information to determine the: (Round & enter your answers to one decimal place for non-dollar ratios and enter the value. For dollar ratio enter as whole dollars only.)

1. Quick Ratio

2. Current Ratio

3. Working Capital

2) The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account 2017 2016

Accounts Receivable $9,800 $9,400

Inventory 30,000 16,000

Net Sales (all credit) 85,000 71,000

Cost of Goods Sold 62,000 52,000

Net Income 7,200 6,900

Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

1. the inventory turnover ratio

2. number of days of inventory

3. Gross Profit Margin

4. Profit Margin

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