b Acid-test ratio The comparative financial statements of Highland Cosmetic Supply for Year 2 and Year 1 include the following select data: (Click the icon to view the comparative fnancial data) Requirements 1. Compute these ratios for Year 2 and Year 1: a. Current ratio c. Average settlement period for trade payables (uning year-end figures) 2. Which of the first two ratios improved from Year 1 to Year 2 and which ratios deteriorated? How does this trend affect the company? Requirement 1 a Calculate the current ratio. (Round your final answer to 2 decimal places. If the answer is less than 1, place a d' in front of the decimal point) Year 1 Current b. Calodate the acident rutie. Round your final awwer to 2 decimal places. It the answer is less than 1, piace in front of the decimal point) Year 2 Year 1 Year 2 Adestrado e. Next, calculate the settement period for trade payable (Round calculations to the nearest complete day) Year 2 Year 1 Surter series for sade sayties (creditors) days daye Requirement 2 The Best from Year 1 to Year 2. This trend the company En boon in each of the editids 2020/21) This Test: 100 HATION (AUGUST ( Question 18 Cosmetic Supply for Year 2 and Year 1 include the following select data: Eicial data.) X 1: More Info payables using Tom Year 1 to Yea (in thousands) Year 2 Year 1 na to 20 Statement of financial position Current assets Inventores Prepaid expenses Trade receivables Cash 360 345 15 doweto 2 70 290 80 150 270 70 160 Short term investments Total current assets Total currenties trade payables creditors) Income statement Creo urdu 950 850 570 620 5,880 5.130 Print Done Time 2