anment 9 K HW Score: 10%, 1 of 10 points O Points: 0 of 2 Save Question 4, S5-12 (similar to) Part 1 of 6 Eastern Products reported the following amounts in its 2019 financial statements. The 2018 amounts are given for comparison (Click the icon to view the financial data.) Read the requirements. Requirement 1. Compute Eastem's quick (acid-test) ratio at the end of 2019, Round to two decimal places. How does the quick ratio compare with the industry average of 0.027 Begin by selecting the formula, then enter the amounts and compute the quick (acid-test) ratio. (Abbreviation used: Cash Cash and cash equivalents. Round the quick (acid-test) ratio to two decimal places.) Quick (acid-test) ratio list JON, 1 of 10 points Save Part 1 of 6 O Points: 0 of 2 Eastern Products reported the following amounts in its 2019 financial statements The 2018 amounts are given for comparison (Click the loon to view the financial data.) Read the red Data table Requiremen Begin by sel decimal plac Current assets Cash Short-term investments 2019 2018 10,000 18,100 $ 10.000 14.600 Accounts receivable $ 83,500 $ 70,200 Less: Allowance for uncollectibles (700) 75.000 (5.800) 64,000 Inventory 191,000 192,000 2.100 2,100 Prepaid insurance Total current assets 207,100 283,800 Total current liabiles: Net sales (all on account). 104,000 111,000 632.250 732.000 Print Done pare with the industry average of 27 equivalents. Round the muck acid) ratio to two Chack answer Requirement 1. Comp Begin by selecting the decimal places.) ratio compare with the industry average of 0.90 -X and cash equivalents. Round the quick (acid Requirements 1. Compute Eastern's quick (acid-test) ratio at the end of 2019. Round to two decimal places. How does the quick ratio compare with the industry average of 0.927 2. Compare days' sales outstanding for 2019 with the company's credit terms of net 30 days. Print Done Clear all