7) The following information is from Carter Corp.'s year-end financial statements Cash Accounts Receivable Short-Term Investments Prepaid Expenses Land Equipment Accumulated Depreciation Accounts Payable Salaries Pavable Interest Payable Long-Term Notes Payable Long-Term Loans Payable Total Revenues $150 $175 $300 $75 $1,000 $950 $625 $275 $25 $100 $300 $400 $2,500 a) Calculate Carter's current ratio, quick (acid test) ratio, and days' sales ratio for the year. (Last year Carter's accounts receivables were $225.) b) Last year, Carter's current ratio was 2, Carter's quick ratio was 1.4, and Carter's days' sales ratio was 31 days. Comment on whether these ratios have improved or worsened this year