Corsig Corporation had the following comparative current assets and current liabilities: 
During 2017, net credit sales and cost of goods sold were $570,000 and $350,000, respectively. Net cash provided by operating activities for 2017 was $140,000.
Instructions
Compute the following liquidity measures for 2017:
1. Current ratio
2. Accounts receivable turnover
3. Inventory turnover
Definitions:
Expenses
Costs incurred by a business in the process of earning revenue, such as rent, salaries, and utility bills.
Withdrawals
Amounts of money taken out from a bank account, investment fund, or retirement plan, often referring to the owner's use of funds for personal use.
Total Liabilities
The sum of all monetary obligations a company owes to external parties, such as loans, accounts payable, and mortgages.
Owner's Equity
Represents the residual interest in the assets of a business after deducting liabilities, essentially the net worth belonging to the owners.
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