3. The comparative financial statements of True Beauty Pools. Inc.. for 2013, 2012, and 2011 included the following select data: Balance sheet 2013 (In millions) 2012 2011 Current assets: Cash...... $ 80 $ 60 S 40 Short-term investments 135 155 110 Receivables, net of allowance for doubtful accounts of $7, $6, and $4, respectively 270 260 230 Inventories... 365 330 300 Prepaid expenses..... 70 15 55 Total current assets. $920 $ 820 $ 735 Total current liabilities. $ 590 $ 630 $ 690 Income statement Net sales.. $5,850 $5,110 $4,210 Compute these ratios for 2013 and 2012: a. Current ratio b. Quick (acid-test) ratio c. Days sales in receivables d. Which ratios improved from 2012 to 2013 and which ratios deteriorated? Is this trend favorable or unfavorable? (Show your solution step by step)