EC-18 Computing key ratios The financial statements of Valerie's Natural Foods include the following items: ective 4 . 89 days Preceding Year Current Year Balance Sheet: $ 26,000 $ 16,000 Cash 28,000 19,000 Short-term Investments 92,000 60,000 Net Accounts Receivable 78,000 74,000 Merchandise Inventory 17,000 6,000 Prepaid Expenses 190,000 226,000 Total Current Assets 82,000 Total Current Liabilities 136,000 Income Statement: $ 476,000 Net Credit Sales Cost of Goods Sold 312,000 Compute the following ratios for the current year: a. Current ratio Days' sales in inventory e. b. Cash ratio Days' sales in receivables f. Acid-test ratio g. Gross profit percentage C. d. Inventory turnover