Bradley Corporation had the following comparative current assets and current liabilities: Dec. 31, 2017 Dec. 31, 2016 Current assets Cash............. $ 30,000 $ 30,000 Short-term investments. 40,000 10,000 Accounts receivable.. 55,000 95,000 Inventory.. 98,000 79,000 Prepaid expenses. 35,000 20,000 Total current assets. $258,000 $234,000 Current liabilities Accounts payable........ Salaries payable... Income tax payable. $120,000 $110,000 40,000 30,000 20,000 15,000 $180,000 $155,000 Total current liabilities..... During 2017, credit sales and cost of goods sold were $260,000 and $192,000, respectively. Instructions Calculate the following liquidity measures for 2017: a) Current ratio b) Acid-test ratio c) Receivables turnover d) Inventory turnover