Abanaki Corporation reported the following items at December 31, 2021, and 2020: (Click the icon to view the comparative financial information.) Read the requirements. Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formularand calculate the quick (acid-test) ratio for 2021. (Abbreviation used: Cash = Cash and cash equivalents. Round your final answer to two decimal places.) Abanaki's quick (acid-test) ratio is considered (b) Select the formula and calculate Abanaki's days' sales outstanding for 2021. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) Abanaki's days' sales outstanding relative to credit terms of net 30 days. Balance Sheets (Summarized) Year End Year End Print Done Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstand 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 2021. (Abbreviation used: Cash equivalents. Round your final answer to two decimal places.) at December 31,2021 , and 2020: cial information.) \$k (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate on account with terms of net 30 days. d-test) ratio for 2021. (Abbreviation used: Cash* = Cash and cash mal places.) iys' sales outstanding for 2021. (Round interim calculations to two itstanding up to the next whole day.) Abanaki Corporation reported the followir IIB (Click the icon to view the comparati Read the requirements. Requirement 1. Compute the company! each ratio value as strong or weak. All si (a) Enter the formula and calculate the q equivalents. Round your final answer to Abanaki's quick (acid-test) ratio is consi (b) Select the formula and calculate Aba decimal places, XX. XX. Round the days' Abanak's days' sales outstanding Read the requirements. equivalents. Round your final answer to two decimal places.) at December 31, 2021, and 2020: cial information.) k (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate on account with terms of net 30 days. d-test) ratio for 2021. (Abbreviation used: Cash* = Cash and cash mal places.) iys' sales outstanding for 2021. (Round interim calculations to two itstanding up to the next whole day.)