The following selected financial data were taken from the accounting records of Jonna Corporation: Jonna Corporation Selected Financial Data December 31 Cash Accounts receivable (net) Merchandise inventory Short-term marketable securities 2012 |P 170,000 450,000 540,000 80,000 Land and building (net) 1,000,000 | Mortgage payable-current portion Accounts payable and accrued 60,000 240,000 liabilities Short-term notes payable Net credit sales totaled to P 3,000,000 and P 2,000,000 for the years ended December 31, 2012 and 2011, respectively. 100,000 140,000 1. At December 31, 2012, Joanna's quick (acid) test ratio was a. 1.50 to 1.00. b.1.75 to 1.00. C.2.06 to 1.00. d. 3.10 to 1.00. 2. For 2012, Joanna's accounts receivable tumover was а. 1.17 b. 1.5 c. 6.67 d. 7.06 3. What is the amount of Joanna's working capital at December 31, 2012? a. P 41,000 b. P 840,000 c. P 50,000 d. P91,000

Stock indexes are used to compare the price fluctuations of a group of stocks of similar companies, which are combined based on a similar industry or a particular market capitalization limit or type of market. The price comparison is based on a pre-deter…