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T18-5 (book/static) Question Help Lovett Company reported the following selected items at March 31, 2018 (last year's2017amounts also given as needed): (Click the icon to view the selected items.) 14. Compute Lovett's (a) acid-test ratio, (b) accounts receivable turnover ratio, and (c) days' sales in receivables as of March 31, 2018. (a) Determine the formula, then compute the acid-test ratio. (Abbreviations used: Cash = Cash including cash equivalents; ST invest. = short-term investments. Enter the acid-test ratio to two decimals, X.XX.) = Acid-test ratio - : - X Data Table Accounts Payable Cash Merchandise Inventory: March 31, 2018 March 31, 2017 Net Credit Sales Revenue Long-term Assets Long-term Liabilities $ 128,000 Accounts Receivable, net: 104,000 March 31, 2018 March 31, 2017 116,000 Cost of Goods Sold 80,000 Short-term Investments 1,168,000 Other Current Assets 168,000 Other Current Liabilities 52,000 $ 108,000 68,000 460,000 56,000 48,000 72,000 Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? 2 parts remaining Clear All Check