LO5. How do we use the acid-test ratio, accounts receivable turnover ratio, and days' sales in receivable to evaluate business performance a) Use the following information to answer the questions below: Cash & Cash Equivalents = $2,000 Short-term Investments = $1,500 Total Current Liabilities (Dec. 31) = $ 700 Net Credit Sales = $ 640 Accounts Receivable (Jan. 1) = $ 450 Accounts Receivable (Dec. 31) = $ 470 i) What is the acid-test ratio at the end of the year? ii) What is the accounts receivable turnover at the end of the year? iii) What is the days' sales in receivable at the end of the year