eBook Problem 9-16 A firm's balance sheets for the last two years are as follows: YEAR 20X1 Assets Cash $ 22,000 Accounts receivable 13,000 Inventory 15,000 Plant and equipment 100,000 Liabilities and Equity Accounts payable $ 15,000 Accruals 5,000 Current bank note 8,000 Long-term debt 82,000 Common stock 15,000 Retained earnings 25,000 $150,000 $150,000 YEAR 20X2 Assets Cash $ 19,000 Accounts receivable 16,000 Inventory 15,000 Plant and equipment 100,000 Liabilities and Equity Accounts payable $ 13,000 Accruals 16,000 Current bank note 9,000 Long-term debt 68,000 Common stock 15,000 Retained earnings 29.000 $150,000 $150,000 Sales in 20X1 were $170,000. Sales in 20x2 were $170,000. Sales in 20x1 were $170,000. Sales in 20x2 were $170,000, a. Based solely on the current ratio and the quick ratio, has the firm's liquidity position deteriorated or improved Round your answers to two decimal places, Current ratios: 20x1: 20x2: Quick ratios: 20x1: 20x2: The firm's liquidity position has select b. Without doing a calculation, has days sales outstanding recevables turnover) improved Days sale outstanding has elect c. Without doing calculation, has inventory turnover deteriorated? Inventory turnover has. Elect di If the firm earned $5,000 during 20x2. what proportion of those earnings were distributed Round your answer to two decimal places