ent 20 K Part 1 of 11 Score: 0%, 0 of 10 points O Points: 0 of 3 The financial statements of Big City News, Inc., include the following items: (Click the icon to view the financial statements.) Read the requirements wwww Requirement 1. Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number. a. Current ratio. Select the formula and then enter the amounts to calculate the current ratio. (Round the ratios to two decimal places, X.XX) 2018 2017 Current ratio Requirement 1. Calcul a. Current ratio. Select the formula and 2018 2017 Requirements 1. Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number. a. Current ratio b. Quick (acid-test) ratio c. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover e. Days' sales in average receivables or days' sales outstanding (DSO) f. Accounts payable turnover and days' payable outstanding (DPO). Use cost of goods sold in the formula for accounts payable turnover. g. Cash conversion cycle (in days) (When calculating days, round your answer to the nearest whole number.) 2. Evaluate the company's liquidity and current debt-paying ability for 2018. Has it improved or deteriorated from 2017? 3. As a manager of this company, what would you try to improve next year? Print Done - X le number. Read the requirement Data table Requirement 1. Calc a. Current ratio. - X number 2018 2017 2016 Balance sheet: Select the formula an Cash $ 26,000 $ 32.000 Short-term investments 13,000 27,000 2018 2017 Net receivables 50,000 73,000 20.000 Inventory 94,000 69,000 60,000 12,000 Prepaid expenses 7.000 Total current assets 195.000 208,000 Accounts payable 55,000 65,000 45,000 Total current liabilities 134,000 90,000 Income statement: Net credit sales 494,000 $ 514,000 Cost of goods sold 274,000 281,000 Print Done