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2) The financial statements for Silver Service Company include the following items: 2019 2018 Cash $49,501840.000 Short-term Investments 33.000 20.500 Net Accounts Receivable 52.000 53.000
2) The financial statements for Silver Service Company include the following items: 2019 2018 Cash $49,501840.000 Short-term Investments 33.000 20.500 Net Accounts Receivable 52.000 53.000 Merchandise Inventory 132.000 45.000 Total Assets $530,000 $47.00 Accounts Payable 131,500122.000 Salaries Payable 15,000 18.000 Long-term Note Payable 58.000 57.000 Compute the acid-test ratio for 2018. (Round your answer to two decimal places) 3) Candle Shop, Inc. has net sales on account of $1,700,000. The average net accounts receivable are $630,000. Calculate the Accounts receivable turnover ratio and days' sales in receivables.(Use 365 days for any calculations. Round any intermediate calculations and your final answer to two decimal places.) 4) Elephant, Inc.'s cost of goods sold for the year is $1,900,000, and the average merchandise inventory for the year is $132,000. Calculate the inventory turnover ratio of the company. (Round your answer to two decimal places.)
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