Exercise 18-7 Frizell Company has the following comparative balance sheet data. FRIZELL COMPANY Balance Sheets December 31 2017 2016 Cash 15,100 29,500 Accounts receivable (net) 70,900 60,000 Inventory 0,90050,100 Plant assets (net) 197,000 175,000 $343,900 $314,600 Accounts payable $49,100 59,200 Mortgage payable (696) 108,000 108,000 Common stock, $10 par 138,500 124,500 48,300 22,900 Retained earnings $343,900 $314,600 Additional information for 2017: 1. Net income was $25,700 Sales on account were $410,500. Sales returns and allowances were $19,500. 2. 3. Cost of goods sold was $197,400 Compute the following ratios at December 31, 2017. (Round answers to 1 decimal place, e.g. 1.6) (a) Current ratio all (b) Acid-test ratio (c) Accounts receivable turnover times (d) Inventory turnover times