E14-17ACalculate ratios (4 points) Kelleher Crafts has provided the following data: Balance sheet item: Cash Short-term investments Net receivables Inventory Prepaid expenses Total current assets Total current liabilities Income statement: Net credit sales Cost of goods sold Current year a. Current ratio b. c. d. $16,000 $14,730 $50,000 $74,000 $17,260 $171,990 $117,000 $434,350 $323,400 Preceding year $21,000 $25,500 $76,140 $73,000 $9,500 $205,140 $88,000 Requirement Compute the following ratios for the current year for Kelleher Crafts: Acid-test ratio Inventory turnover Days' sales in average receivables (assume all sales are on credit)

E14-17ACalculate ratios ( 4 points) Kelleher Crafts has provided the following data: reytu camers Compute the following ratios for the current year for Kelleher Crafts: a. Current ratio b. Acid-test ratio c. Inventory turnover d. Days' sales in average receivables (assume all sales are on credit)