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need help with 2 and 3 The 2017 and 2018 balance, shects for Bothwel inc, stacwed net accoants receivable of $13,000 and $23,000, respectively, inventory
need help with 2 and 3
The 2017 and 2018 balance, shects for Bothwel inc, stacwed net accoants receivable of $13,000 and $23,000, respectively, inventory of 58,900 and $7,200, respectively, and accounts payatie of $5,200 and $9,200, tespectively. The company's 2018 batance shect showed cash of $29,000 and current tiabilites totaled 533,000 . The company's 2018 income statement sowed net sales of $138,700 and cost of goods sold ot $73,000. Compuife the following ratios for 2018 1. Cuitent ratio 2. Quick ratio 3. Casf conversion cycie (roand to whole days) 1. Compute the current ratio for 2018 Select the formula needed to determine this amouat and then enter the amounts to caicutate the ratio. (Abibeviations used Ap a Acoocints payable, AnR = Accounts ieceivable Round the ratio to two decimal places, XX) 2. Compute the quick ratio for 2018 . Seiect the formula needed to determine thes amcunt and then enter the amouns lo casculate the ratio. (Round the ratio to two decimal piaces, x. x ) Step by Step Solution
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