$ 134,000 153,000 $ Accounts Payable Cash Merchandise Inventory: July 31, 2018 July 31, 2017 Net Credit Sales Revenue Long-term Assets Long-term Liabilities 113,000 82,000 1,697,250 173,000 58,000 Accounts Receivable, net: July 31, 2018 July 31, 2017 Cost of Goods Sold Short-term Investments Other Current Assets Other Current Liabilities 136,000 50,000 530,000 44,250 51,000 81,000 Long Company reported the following selected items at July 31, 2018 (last year's-2017amounts also given as needed): (Click the icon to view the selected items.) 14. Compute Lovett's (a) acid-test ratio, (b) accounts receivable turnover ratio, and (c) days' sales in receivables as of July 31, 2018. (a) Determine the formula, then compute the acid-test ratio. (Abbreviations used: Cash = Cash including cash equivalents; ST invest. = short-term investments. Enter the acid-test ratio to two decimals, X.XX.) = Acid-test ratio (b) Determine the formula, then compute the accounts receivable turnover ratio. (Abbreviations used: Cash = Cash including cash equivalents; ST invest. = short-term investments; AR = Accounts Receivable. Round the accounts receivable turnover ratio to two decimal places, X.XX.) AR turnover ratio (c) Determine the formula, then compute days' sales in receivables for 2018. (Abbreviations used: Cash = Cash including cash equivalents; ST invest. = short-term investments; AR = Accounts Receivable. Round interim calculations to two decimal places, X.XX, and the days' sales in receivables to the nearest whole day.) Days' sales in AR