More Info X a. Current ratio b. Cash ratio c. Acid-test ratio d. Inventory turnover e. Days' sales in inventory f. Days' sales in receivables g. Gross profit percentage Print Done und intermediary calculations to two decimal places X XX and round your final answer to a. Compute the current ratio for the current year. (Abbreviations used: STI = Short-term investments. Round your answer to two decimal places, X.XX.) Current ratio b. Compute the ca: 365 days / Accounts receivable turnover ratio Cash ratio 365 days / Inventory turnover 365 days / Total current assets c. Compute the aci (Cash + Cash equivalents) / Total current liabilities Acid-test ratio (Cash + Prepaid expenses) / Total current liabilities (Cash + STI + Net current receivables) / Total current liabilities d. Compute the inv Cost of goods sold / Average merchandise inventory Gross profit/ Net sales revenue Inventory turnover Net sales revenue / Gross profit e. Compute the da Total current assets/Total current liabilities times laces, X.XX and round your final answer to the nearest whole day.) Days' sales in inventory days f. Compute the days' sales in receivables for the current year. (Round intermediary calculations to two decimal places, X.XX and round your final answer to nearest whole day.) Days' sales in receivables days g. Compute the gross profit percentage for the current year. (Round your answer to one tenth of a percent, X.X%.) Gross profit percentage % i Financial Statements - X Current Year Preceding Year $ Balance Sheet: Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Income Statement: Net Credit Sales Cost of Goods Sold 15,000 $ 17,000 42,000 78,000 14,000 28,000 21,000 84,000 74,000 5,000 166,000 138,000 212,000 93,000 $ 463,000 312,000 g. Compute the gross profit percentage for the current year. (Round your answer to one tenth of a percent, X.X%.) Gross profit percentage % The financial statements of Virginia's Natural Foods include the following items: (Click the icon to view the financial statements.) Compute the following ratios for the current year: i (Click the icon to view the ratios.) a. Compute the current ratio for the current year. (Abbreviations used: STI = Short-term investments. Round your answer to two decimal places, X.XX.) Current ratio b. Compute the cash ratio for the current year. (Round your answer to two decimal places, X.XX.) Cash ratio c. Compute the acid-test ratio for the current year. (Round your answer to two decimal places, X.XX.) Acid-test ratio d. Compute the inventory turnover for the current year. (Round your answer to two decimal places, X.XX.) Inventory turnover times e. Compute the days' sales in inventory for the current year. (Round intermediary calculations to two decimal places, X.XX and round your final answer to the nearest whole day.) Days' sales in inventory days f. Compute the days' sales in receivables for the current year. (Round intermediary calculations to two decimal places, X.XX and round your final answer to nearest whole day.) Days' sales in receivables days
