Exercise 193 Booker Corporation had the following comparative current assets and current liabilities Dec. 31, 2017 Dec. 31, 2016 Current assets Cash Short-term investments Accounts receivable Inventory $60,000 40,000 55,000 110,000 35,000 $300,000 $30,000 10,000 95,000 90,000 20,000 $245,000 Prepaid expenses Total current assets Current liabilities Accounts payable Salaries payable Income tax payable $140,000 40,000 20,000 200,000I $110,000 30,000 15,000 $155,000 Total current liabilities During 2017, credit sales and cost of goods sold were $750,000 and $400,000, respectively Compute the following liquidity measures for 2017: (Round current and acid-test ratios to 2 decimal places, e.g. 52.71.) 2.Working capital 2000 All Rights Reserved. A Division of 40,000 20,000 30,000 15,000 $155,000 araes paydble Income tax payable Total current liabilities During 2017, credit sales and cost of goods sold were $750,000 and $400,000, respectively Compute the following liquidity measures for 2017: (Round current and acid-test ratios to 2 decimal places, e.o. 52.71.) $200,000St5S ooe 1/ Curtent ratio Working capital 3Acid-test ratio 4Accounts receivable turnover times times Click if you would like to Show work for this question: Qpen Show Work 4.24.10.9