Exercise 193 Booker Corporation had the following comparative current assets and current liabilities: Dec. 31, 2019 Dec. 31, 2018 Current assets Cash $60,000 $30,000 Short-term investments 40,000 10,000 Accounts receivable 55,000 95,000 Inventory 110,000 90,000 Prepaid expenses 35,000 20,000 $300,000 Total current assets $245,000 Current liabilities Accounts payable Salaries payable Income tax payable $140,000 $110,000 30, doo 40,000 20,000 15,000 $200,000 Total current liabilities $155,000 During 2019, credit sales and cost of goods sold were $750,000 and $400,000, respectively. Compute the following liquidity measures for 2019: (Round current and acid-test ratios to 2 decimal pla 1. Current ratio :1 2. Working capital 3. Acid-test ratio :1 4. Accounts receivable turnover times 5. Inventory turnover times