a partial balance sheet and income statement for King Corproation follow: KING CORPORATION Partial Balance Sheet December 31,2009 Assets Current assets: Cash $33,493 Marketable securities $215,147 Trade receivables, less allowance of $6,000 $255,000 Inventories, LIFO $523,000 Prepaid expenses $26,180 Total current assets $1,052,820 Liabilities Current liabilities Trade accounts payable $103,689 Notes payable (primarily to banks) and commercial paper $210,381 Accrued expenses and other liabilities $120,602 Income taxes payable $3,120 Current maturities of long-term debt $22,050 Total current liabilities $459,842 KING CORPORATION Partial Income Statement For Year Ended December 31, 2009 Net sales $3,050,600 Miscellaneous income $45,060 $3,095,660 Cost and expenses: Cost of sales $2,185,100 Selling, general, and administrative expenses $350,265 Interest expense $45,600 Income taxes $300,000 $2,880,965 Net income $214,695 The trade receivables at December 31, 2008, were $280,000, net of an allowance of $8,000, for a gross receivables figure of $288,000. The Inventory at December 31,2008, was $565,000 Compute the following: a. Working capital b. Current ratio c. Acid-test ratio d. Cash ratio e. Days' sales in receivables f. Accounts receivable turnover in days g. Days' sales in inventory h. Inventory turnover in days i. Operating cycle