a. Compute the current ratio for the current year. (Abbreviations used: STI = Short-term investments. Round your answer to two decimal places, X.XX.) 0 Financial Statements Current ratio 1.30 Total current assets/Total current liabilities b. Compute the cash ratio for the current year. (Round your answer to two decimal places, X.XX.) Cash ratio (Cash + Cash equivalents) / Total current liabilities .95 Current Year Preceding Year Balance Sheet: c. Compute the acid-test ratio for the current year. (Round your answer to two decimal places, X.XX.) $ Acid-test ratio (Cash + STI + Net current receivables) / Total current liabilities Cash Short-term Investments - Net Accounts Receivables 19,000 $ 10,000 44,000 82,000 17,000 21,000 25,000 72,000 d. Compute the inventory turnover for the current year. (Round your answer to two decimal places, X.XX.) Merchandise Inventory 64,000 Inventory turnover = Cost of goods sold / Average merchandise inventory times 9,000 e. Compute the days' sales in inventory for the current year. (Round intermediary calculations to two decimal places, X.XX and round your final answer to the nearest whole day.) 172,000 191,000 86,000 132,000 Days' sales in inventory = 365 days / Inventory turnover days f. Compute the days' sales in receivables for the current year. (Round intermediary calculations to two decimal places, X.XX and round your final answer to nearest whole day.) Days' sales in receivables 365 days / Accounts receivable turnover ratio days Prepaid Expenses Total Current Assets Total Current Liabilities Income Statement: Net Credit Sales Cost of Goods Sold $ 470,000 314,000 g. Compute the gross profit percentage for the current year. (Round your answer to one tenth of a percent, X.X%.) Print Done Done Gross profit percentage Gross profit / Net sales revenue %