The financial statements of Alamo Iron Works include the following items:

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Compute the following ratios for the current year:

(a) current ratio,

(b) acid-test ratio,

(c) inventory turnover,

(d) accounts receivable turnover, and

(e) days' sales in average receivables.

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Current Year Preceding Year Balance sheet: Cash.......... Short-term investments Net receivables.. Inventory. Prepaid expenses. $ 17,000 $ 22,000 11,000 26,000 64,000 73,000 87,000 71,000 6,000 8,000 Total current assets 185,000 200,000 Total current liabilities. 121,000 91,000 Income statement: Net credit sales........ $454,000 Cost of goods sold..................... 257,000