2014 2013 2014 2013 113,110 10,470 Total Assets 128,980 8,055 5,300 42,335 Cash and Cash Equivalents 12,250 Receivables 9,065 Inventory 6,620 Prepaid Expenses 8,545 Total Curent Assets 36,480 Other Assets 92,500 10,600 18,960 Total current liabilities 36,150 Long-term Liabilities 23,990 Mercedes Aldana, Capital 68,840 Total Liabilities and Equity 128,980 34,425 78,685 51,815 113,110 2014 104,705 32,275 69,430 35,325 Sales Cost of Sales Gross Profit Selling Expenses Administrative Expenses Operating Income Interest Expense Net Income 12,815 21,290 1,050 20,240 1. Which statement best describes Merdana Trading Ltd.'s acid-test ratio? a) Greater than 1 b) Equal to 1 c) Less than 1 d) None of the above 2. Merdana Trading Ltd.'s inventory turnover during 2014 was (amounts rounded) a) 6 times b) 7 times c) 8 times d) Not determinable