Corsig Corporation Had the Following Comparative Current Assets and Current

question 220

Essay

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

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Definitions:

Lady of Auxerre

A small, ancient Greek sculpture representing a goddess or maiden, notable for its archaic style and originating from Crete.

Kore

Greek, “young woman.” An Archaic Greek statue of a young woman.

Inscription

Text that is written, engraved, or carved on a surface, like a monument or within a book, to convey information or dedication.

Athena Parthenos

A massive chryselephantine (gold and ivory) sculpture of Athena created by Phidias, once housed in the Parthenon in Athens, symbolic of wisdom and warfare.