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(In millions) 2020 2019 2018 Balance sheet Current assets: Cash $ 90 $ 75 $ 60 145 190 135 Investment in trading securities Receivables, net

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(In millions) 2020 2019 2018 Balance sheet Current assets: Cash $ 90 $ 75 $ 60 145 190 135 Investment in trading securities Receivables, net of allowance for uncollectible accounts of $7, $6, and $4, respectively Inventories 280 240 220 350 350 55 310 65 30 Prepaid expenses Total current assets $ 920 $ 885 $ 790 Total current liabilities $ 530 $ 645 $ 650 Income statement Net sales (all on account) $ 7,020 $ 4,830 $ 4,745 Requirement 1. a. Compute the current ratios for 2020 and 2019. (Round your final answers to two decimal places, X.XX.) 2020 2019 Current ratio = Requirement 1. b. Compute the quick (acid-test) ratios for 2020 and 2019. (Round your final answers to two decimal places, X.XX.) 2020 2019 Quick (acid-test) ratio = Requirement 1. c. Compute the days' sales outstanding for 2020 and 2019. (Round interim calculations to two decimal places, XX.XX and the amounts you enter into the answer boxes (DSO) up to the next whole day.) 2020 2019 Days' sales outstanding (DSO) = days days Requirement 2. Which ratios improved from 2019 to 2020 and which ratios deteriorated? Is this trend favorable or unfavorable? The current ratio V from 2019 to 2020. The quick ratio from 2019 to 2020. The days' sales outstanding This trend the company Requirement 3. Recommend two ways for Lakeland Pools to improve cash flows from receivables. Lakeland Pools can improve cash flows from receivables by either and/or

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