Southside Clothiers reported the following items at September 30, 2012 (last year€™s€”2011€”amounts also given as needed):

Requirement
1. Compute Southside€™s
(a) Acid-test ratio,
(b) Days€™ sales in average receivables for 2012, and
(c) Accounts receivable turnover ratio. Evaluate each ratio value as strong or weak. Southside sells on terms of net30.

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Accounts payable $ 320,000 Accounts receivable, net: September 30, 2012 $ 270,000 Cash Inventories September 30, 2012 September 30, 2011 Net sales revenue September 30, 2011 290,000 Cost of goods sold 200,000 Short-term investments Other current assets 420,000 Other current liabilities 1,150,000 140,000 120,000 180,000 Long-term assets Long-term liabilities 130,000