iData Table 2018 2017 Balance sheet-partial Current Assets: Cash 7,000 13,000 Short-term Investments 21,000 10,000 $ 72,000 Accounts Receivable 59.000 (9,000) (8,000) Less: Allowance for Bad Debts 50,000 64,000 Merchandise Inventory 193,500 189,500 5,000 5,000 Prepaid Insurance Total Current Assets 276,500 281,500 Total Current Liabilities 104,000 106,000 Income statement-partial Net Sales (all on account) 728.000 661,200 Print Done X Pawnee Carpets reported the following amounts in its 2015 trancal sslements. The 2017 tgures are gven for companson Cick the ieon to viw the camparativa fnancial information) eoeents mproved or detenorated trom 2017 20 Haw docs Pawnecs acid tost rato compare wth the industry avcrage of 0807 Abbrvations used: Cach-Cash including cash cquvaens ST Invest-short bem imcstments. Round the Rcquirement 1. Calculate Pawnce's acid test rato for 2018. (Round to two decimals) Dctomine whether Fawnce's acid X xx aT atn in hwo decma at Calcuata the acidteat naio for hoth yaas Acdest rato Faquramants 2015 1. Caculate Fawnsels acid-test ratic 1for 2018 (Round to two decimals) Determine whether Paree's acd-test rato improvec or detenorated from erag a crut recate nmeer pen Rn nd to twp batimala ) How does Fawnoe's rato compare to the industry averapa Lona Prat