mba 560 module 5 test 495234

Problem 1. The following information applies to Barnhart Company:??  ? ??Additional information: Net Credit Sales = $220,000 Beginning Accounts Receivable = $10,000 Required:??1) Compute Barnhart’s:??a) Quick ratio?b) Current ratio?c) Working capital?d) Accounts receivable turnover?e) Average days to collect receivables  Problem 2. The Jiffy Manufacturing Company started operations in 2012 when it acquired $100,000 from its owners. During the year, the company incurred the following costs:??  ??The company placed 12,000 units into production, completed 10,000 units, and sold 8,000 units. The average selling price was $17 per unit.??Required:??1) Prepare a schedule of cost of goods manufactured and sold for the year ended December 31, 2012.?2) Prepare an income statement for the year ended December 31, 2012.