Following is information for Morgan Company and Parker Company, which are similar firms operating in the same industry. Morgan 1 Year Ago 2 Years Ago Current Year Parker 1 Year Ago 2 Years Ago 3.6 3.5 3.0 2.9 Current ratio Acid-test ratio Accounts receivable turnover Inventory turnover Current Year 5.1 4.7 4.0 3.1 4.6 4.4 3.8 3.5 32.4 27.1 31.1 18.3 17.1 17.9 26.1 23.8 19.0 16.4 14.9 14.5 1. Based on current ratio and acid-test ratio, which company appears better positioned to pay current liabilities? 2. Based on accounts receivable turnover, which company converts its receivables into cash more frequently? 3. Based on inventory turnover, which company appears to hold inventory for the least amount of time? 1. Based on current ratio and acid test ratio, which company appears better positioned to pay current abiti 2 Based on accounts receivable turnover which company converts its receivables into cash more frequently 3. Based on inventory turnover which company appears to hold inventory for the least amount of time? Prev 18 19 BE