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P8-34A (similar to) EQuestion Help The comparative financial statements of Essex Cosmelic Supply for 2018, 2017, and 2018 include the dala shown here EEB(Click the icon to view the comparative financial data.) Read the roquirements Requirement 1a. Compute the acid-test ratio tor 2018 and 2017 (Round to two decmals) (Abbreviations used: Cash Cash including cash equivalents, ST invest short-term investments Round the acid test ratios to two decimals, X XX) -X Acid test ratio i Data Table 2018 2017 2017 2016 2018 Balance sheet-partial Requirements Current Assets 80000 S Cash 75,000 60,000 175,000 Short-term Investments 130,000 155,00D Compute tneseads Tor 2018 and 2017: Accounts RecIvable, Net 265.000 235.000 240,000 Merchandise Inventory 340,000 380 000 305,000 b. Accounts receivable turnover (Round to two decimals.) 55.000 15.000 60,000 c. Days' sales in receivables (Round to the nearest whole day.) Considering each ratio individually, which ratios improved from 2017 to 2018 retios deterioreted? Is the trend favorable or unfavorable for the Prepaid Expenses 2. Total Current /Assots B85 000 845 000 820,000 535 000 company? Tolal Current Liabilities 600 000 615.000 Income statement-partial Net Sales (all on account) 5.870,000 5.110.000 4.200.000 Print Done