4. Lamsey Company reported the following selected items at April 30, 2018 (last year's-2017-amounts 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 April 30, 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.) (1) (2) 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.) (3) (4) 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.) (5) (6) = Days' sales in AR = 1: Data Table Accounts Payable $ 139,000 Accounts Receivable, net: Cash 102,000 $ 181,000 April 30, 2018 April 30, 2017 Merchandise Inventory: 55.000 117,000 Cost of Goods Sold April 30, 2018 April 30, 2017 550,000 27,500 83.000 Short-term Investments Net Credit Sales Revenue 2,153,500 Other Current Assets 54,000 Other Current Liabilities 86,000 Long-term Assets Long-term Liabilities 169,000 55,000 (1) O O Average net accounts receivable O 365 Cash O Accounts receivable O (Cash + Net current receivables) Accounts receivable turnover ratio O (Cash + ST invest.) (Cash + ST invest. + Net current receivables) Net credit sales Total current assets Total current liabilities (2) O Average net accounts receivable 0 365 Cash Accounts receivable O (Cash + Net current receivables) Accounts receivable turnover ratio O (Cash + ST invest.) (Cash + ST invest. + Net current receivables) Net credit sales Total current assets Total current liabilities (3) O Average net accounts receivable 365 Cash Accounts receivable O (Cash + Net current receivables) Accounts receivable turnover ratio O (Cash + ST invest.) (Cash + ST invest. + Net current receivables) Net credit sales Total current assets Total current liabilities (4) O Average net accounts receivable O 365 Cash Accounts receivable O (Cash + Net current receivables) Accounts receivable turnover ratio O (Cash + ST invest.) (Cash + ST invest. + Net current receivables) Net credit sales Total current assets Total current liabilities (5) O Average net accounts receivable 365 Cash Accounts receivable O (Cash + Net current receivables) Accounts receivable turnover ratio O (Cash + ST invest.) (Cash + ST invest. + Net current receivables) Net credit sales Total current assets Total current liabilities (6) O Average net accounts receivable 365 Cash Accounts receivable O (Cash + Net current receivables) O Accounts receivable turnover ratio O (Cash + ST invest.) O (Cash + ST invest. + Net current receivables) Net credit sales Total current assets Total current liabilities