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 Print Current Year Preceding Year 16,000 $ 19,000 60,000 78,000 17,000 190,000 136,000 476,000 312,000 Done 26,000 28,000 92,000 74,000 6,000 226,000 82,000 - Xwing ratios fo In to view the m investments aces, X.XX.) es

Financial Statements The financial statements of Valene's Natural Foods include the following items: [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 ST) = Short-term investments. Round your answer to two decimal places, XXX) Current ratio = Total current assets + Total current liabilities b. Compute the cash ratio for the current year: (Round your answer to two decimal places, XXX) Cash ratio = (Cash + Cash equivalents) - Total current liabilities