1. (5 points) Selected data for United, Inc. is given below (parts c, d and e are on the next page): 2021 2020 Cash $40,000 $32,000 Short-term investments 75,000 52,000 Accounts receivable, net 95,000 82,000 Merchandise inventory 115,000 118,000 Prepaid expenses 10.000 9,000 Plant assets 400,000 350,000 Accounts payable 115,000 108,000 Net sales 750,000 675,000 Cost of goods sold 420,000 375.000 a. Calculate the working capital for 2021. b. Calculate the current ratio for 2021. Continued on the next page c. Calculate the acid test ratio ("quick ratio") for 2021. d. Calculate the accounts receivable turnover for 2021. e. Calculate the inventory turnover for 2021. AAN and stock margt for can amount from Custonas. Oporeeting noenting - (5 points) Alice and Barbara form a partnership. Alice contributed $100,000, and, Barbara contributed $80,000. The partnership agreement states that partnership profits be shared in the following manner: A salary allowance will be given to Alice in the amount of $50,000 and Barbara $40,000. Additionally, there will be a 10% interest allowance on their investments. The remaining amount of partnership profits or loss will be shared equally. Required: Determine the partners' share of partnership profits if the first year net income is $150,000