(a) Compute Northrend's acid-test ratio. (Round your final answer to two decimal places. Abbreviation used: Avg. = Average; Invest. = Investment; Liab. = Liabilities; Merch. = Merchandise; Receiv. = Receivable; Rev. = Revenue.) Net Current + Receiv. + $ 269,000 Short-term + Invest + $ 146,000 / Total Current Liab. Cash 301,800 = Acid-test ratio ($ A Data Table $ $ Accounts Payable Cash Merchandise Inventory: December 31, 2018 December 31, 2017 Net Credit Sales Revenue Long-term Assets Long-term Liabilities 326,000 Accounts Receivable, net: 301,800 December 31, 2018 December 31, 2017 250,000 Cost of Goods Sold 240,000 Short-term Investments 269,000 161,000 1,210,000 146,000 3,139,000 440,000 120.000 Other Current Assets Other Current Liabilities 50,000 186,000 Accounts Accounts Average Net Accounts ( Receivable 2017 + Receivable 2018 )/ 2 = Receivable ( $ ' + $ 3 )/2 = $ Net Credit Sales Revenue $ Average Net Accounts Receivable / $ Accounts receivable turnover ratio Accounts receivable turnover ratio = Days' sales in receivables 365