The Following Information Applies to Markham Company Additional Information: Net Credit Sales Equal $220,000 and Beginning Accounts

Essay

The following information applies to Markham Company:
$\begin{array}{lr}\text { Assets }\\\text { Cash } & \$ 6,000 \\\text { Accounts receivable } & 13,000 \\\text { Inventory } & 16,000 \\\text { Plant and equipment, net } & 21,000 \\\text { Land } & \underline{ 19,000}\\\text { Total assets } & \underline{ \$ 75,000} \\\\\text { Liabilities and stockholders' equity }\\\text { Accounts payable } & \$, 000 \\\text { Salaries payable } & 10,000 \\\text { Bonds payable (due 2020) } & 12,000 \\\text { Capital stock, no par } & 23,000 \\\text { Retained earnings } & \underline{ 25,000 }\\\text { Total liabilities and stockholder's' equity } & \underline{ \$ 75,000}\end{array}$
Additional information: Net credit sales equal $220,000 and beginning accounts receivable were $11,000.
Required:
Compute Markham's:
(a)Quick ratio
(b)Current ratio
(c)Working capital
(d)Accounts receivable turnover
(e)Average days to collect receivables
Round your answers to two decimal places.