1. Compute these ratios for 2024 and 2023: a. Acid-test ratio (Round to two decimals.) b. Accounts receivable turnover (Round to two decimals.) c. Days' sales in receivables (Round to the nearest whole day.) 2. Considering each ratio individually, which ratios improved from 2023 to 2024 and which ratios deteriorated? Is the trend favorable or unfavorable for the company? Balance sheet-partial Current Assets: 2024 2023 2022 Cash $ 95,000 $ 50,000 $ 65,000 Short-term Investments 115,000 165,000 150,000 Accounts Receivable, Net 270,000 265,000 230,000 Merchandise Inventory 345,000 315,000 290,000 65,000 45,000 45,000 Prepaid Expenses Total Current Assets 890,000 840,000 780,000 Total Current Liabilities 535,000 645,000 660,000 Income statement-partial Net Sales (all on account) 5,830,000 5,110,000 4,250,000 The comparative financial statements of Perfection Cosmetic Supply for 2024, 2023, and 2022 include the data shown here: (Click the icon to view the comparative financial data.) Read the requirements. Requirement 1a. Compute the acid-test ratio for 2024 and 2023. (Round to two decimals.) (Abbreviations used: Cash = Cash including cash equivalents; ST invest. = short-term investments. Round the acid test ratios to two decimals, X.XX.) 2024 2023 = Acid-test ratio =