Lakota Equipment reported the following items on December 31, 2018 (last year's amounts are also given as needed): Click the icon to view the financial information) Requirements 1. Compute Lakota Equipment's (a) quick ratio, (b) current ratio, and (c) accounts receivable turnover for 2018 2. Evaluate each ratio value as strong or weak. Assume Lakota Equipment sells on terms of net 30. Requirement 1a. Compute Lakota Equipment's quick ratio for 2018. Select the formula, then enter the amounts to calculate the ratio. (Round your final answer to two decimal places, XXX. Abbreviation used: ST invest short-term investment.) = Quick ratio Choose from any list or enter any number in the input fields and then click Check Answer 5 parts Clear All Check Answer remaining Data Table $ 43,400 21,000 Accounts payable Cash Inventory: December 31, 2018 December 31, 2017 Net credit sales ......... Long-term assets ........ Long-term liabilities.. Accounts receivable, net December 31, 2018 December 31, 2017 cost of goods sold Short-term investments Other current assets Other current liabilities 22,000 18,000 245,000 42,000 5,000 und . $ 27,000 23,000 115,000 14,000 4,000 15,500 Print Done