Abanaki Corporation reported the following items at December 31, 2018, and 2017: Click the icon to view the comparative financial information.) Requirements Read the requirements Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2018. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2018. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2018. Evaluate each ratio value as strong or weak. All sales on account with terms of net 30 days. 2. Recommend two ways for Abanaki to speed up its cash flow from receivables Quick (acid-test) ratio X Print Done Abanaki's quick (acid-test) ratio is considered (b) Select the formula and calculate Abanaki's days' sales outstanding for 2018. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) Days' sales outstanding Balance Sheets (Summarized) Year End Year End Abanaki's days' sales outstanding V relative to credit terms of net 30 days. 2018 2017 2018 2017 Requirement 2. Recommend two ways for Abanaki to speed up its cash flow from receivables. Current assets: Current liabilities: Abanaki could speed up cash flows from receivables by V or Cash $ 17,000 $ 13,000 $ 16,000 $ 17,500 Accounts payable Other current liabilities 22,000 11,000 103,000 105,000 Marketable securities Accounts receivable, net 52,000 20,000 21.000 Inventory Other current assets Long-term assets 192,000 5.000 66,000 Long-term liabilities 188,000 5,000 Stockholders' equity 149.000 149.500 10.000 Total assets $ 288,000 $ 293,000 Total liabilities and equity $ 288,000 $ 293,000 Income Statement (partial): Sales revenue 2018 $ 767,000