File Home Insert Draw Page Layout Formulas Data 12 B 4 A5 General XVfx A B C D E F Selected financial data for Shumway Ltd. Are shown below. a) Calculate for each of 2021 and 2020 the (1) current ratio, (2) receivables turnover ratio, and (3) inventory turnover ratio. b) Based on these ratios, what conclusion(s) can be drawn about the company's liquidity? 2 3 4 5 6 7 8 Accounts receivable Inventory 2021 2020 9 Total current assets 10 Total current liabilities 11 Net credit sales 12 Cost of goods sold 13 2019 650,000 840,000 850,000 750,000 1,020,000 980,000 2,100,000 2,000,000 1,700,000 1,000,000 1,100,000 1,250,000 6,420,000 6,240,000 5,430,000 4,540,000 4,550,000 3,950,000 Tool 14 15 16 17 18 19 20 21 22 10 Q1 Q2 Q3 Ratios Workbook Statistics