Based on these data, calculate the following for 2008 and 2007: 1. Days’ sales in receivables 2. Accounts receivable turnover (gross receivables at year-end) 3. Days’ sales in inventory 4. Inventory turnover (use inventory at year-end) 5. Working capital 6. Current ratio 7. Acid-test ratio b. Comment on each ratio individually c. Comment on the apparent total liquidity.
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