- Financial Statements Balance Sheet: Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Income Statement: Net Credit Sales Cost of Goods Sold 16,000 $ 19,000 60,000 78,000 17,000 26,000 28,000 92,000 74,000 6,000 190,000 136,000 226,000 82,000 GA 476,000 312,000 Print Done The financial statements of Valerie's Natural Foods include the following items: E: (Click the icon to view the financial statements.) Compute the following ratios for the current year: (Click the icon to view the ratios.) a. Compute the current ratio for the current year. (Abbreviations used: STI = Short-term investments. Round your answer to two decimal places, X.XX.) Current ratio = 365 days = Inventory turnover