Complete requirements 1b, 1c, and 2. Thanks!

The comparative financial statements of True Beauty Cosmetic Supply for 2018, 2017, and 2016 include the data shown here: (Click the icon to view the comparative financial data.) Read the requirements. Data Table Requirement 1a. Compute the acid-test ratio for 2018 and 2017. (Round to two decimals.) (Abbreviations used: Cash = Cash including cash equivalent (Cash + ST invest. + Net current receivables) Total current liabilities Acid-test ratio 530.000 $ 555,000 0.95 2017 $ 450,000 645,000 0.70 2018 $ 2018 2017 2016 Requirement 1b. Compute the accounts receivable turnover for 2018 and 2017. (Round to two decimals.) (Abbreviations used: AR turn = accounts red investments. Round the accounts receivable turnover ratios to two decimals, X.XX.) Balance sheet-partial Current Assets AR turn Cash $ 85,000 $ 65,000 $ 40,000 2018 Short-term Investments 150,000 150,000 295.000 2017 Accounts Receivable. Net Merchandise Inventory 105,000 255,000 280,000 25,000 235,000 310,000 10,000 330,000 85.000 Requirements 705.000 Prepaid Expenses Total Current Assets Total Current Liabilities Income statement partial Net Sales (all on account) 945.000 555,000 770,000 645,000 630,000 5.910.000 5,120,000 4.280.000 1. Compute these ratios for 2018 and 2017: a. Acid-test ratio (Round to two decimals.) b. Accounts receivable turnover (Round to two decimals.) c. Days' sales in receivables (Round to the nearest whole day.) 2. Considering each ratio individually, which ratios improved from 2017 to 2018 and which ralios deteriorated? Is the trend favorable or unfavorable for the company? Print Done Choos 4 pa Print Done Clear All Check