P9-34A (similar to) Data Table The comparative financial statements of True Beauty Cosmetic Supply for 2018, 2017, and 2016 include the data shown here: Click the icon to view the comparative financial data.) Read the requirements 2018 2017 2016 Balance shoot partial Current Assets: Cash Short-term Investments Accounts Receivable. Net $ 90,000 $ 135,000 290,000 365,000 65,000 85,000 $ 145,000 230,000 345,000 15,000 45,000 125,000 245,000 305,000 60,000 Requirement 1a. Compute the acid-test ratio for 2018 and 2017. (Round to two decimals.) (Abbreviations used: Cash = Cash including cash equivalents = Acid-test ratio 2018 2017 365 Accounts receivable Accounts receivable turnover ratio Average accounts receivable i Requirements Cash (Cash + Net current receivables) (Cash + ST invest.) 1. Compute these ratios for 2018 and 2017: (Cash + ST invest. + Net current receivables) a. Acid-test ratio (Round to two decimals.) Net credit sales b. Accounts receivable turnover (Round to two decimals.) Total current assets c. Days' sales in receivables (Round to the nearest whole day.) Total current liabilities 2. Considering each ratio individually, which ratios improved from 2017 to 2018 and which ratios deteriorated? Is the trend favorable or unfavorable for the company? Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities 780,000 945,000 540,000 820,000 620,000 615,000 Income statement-partial Net Sales (all on account) 5,840,000 5.140,000 4,240,000 Print Done Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? 5 parts remaining Clear All Check