Working capital requirement

I need this converted I have no clue how to do it see attached file and the questions answered and copied here:

1. Restate the following balance sheet into managerial balance sheet format. What does working capital requirement (WCR) mean?

Balance Sheet
Fiscal Year Ended Dec 31
1999 2000

Assets
Cash and cash equivalents $ 12 $ 20
Receivables 1,525 2,690
Inventories 8,061 12,872
Prepaid expenses 200 101
Total Current Assets 9,798 15,683
Fixed Assets 6,353 9,850
Accumulated Depreciation (1,608) ( 2,173)

Total Assets $14,543 $23,360

Liabilities & Stockholders Equity
Short Term Notes payable $ 1,000 $1,251
Accounts Payable 3,873 7,104
Accrued Liabilities 1,826 2,656
Long Term Debt due in one year 14 20

Total Current Liabilities 6,713 11,031

Long Term Debt 3,073 4,448

Total Liabilities 9,786 15,479

Stockholders Equity
Common Stock 230 260
Paid in Capital 527 750
Retained Earnings 4,000 6,871

Total Stockholders Equity 4,757 6,881

Total Liabilities & Stockholders Equity $14,543 $23,360

Income Statement
(In Millions)

Year Ended
12/31/00

Sales $250,000
Cost of Sales 45,000
Selling & Administrative 8,321

Total Operating Expenses 53,321

Operating Income 196,679

Interest Costs 307

Income Before Taxes 196,372

Income Tax Expense 66,000

Net Income $ 130,372

2. Use the balance sheet and income statement provided above and calculate the following for year 2000:
a) Average collection Period
b) Inventory Turnover
c) Comment on the operational efficiency of the firm.

3. Use the balance sheet provided above and calculate the following (for both years):
a) Current Ratio
b) Quick Ratio
c) Comment on the liquidity of the firm.

4. Why is the acid test or quick ratio a better measure of liquidity than the current ratio?