Pawnee Corporation reported the following items at December 31, 2018, and 2017: B (Click the icon to view the comparative financial information.) Read the requirements. Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2018. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2018. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) Cash* + Short-term investments + Net current receivables = Quick (acid-test) ratio Pawnee's quick (acid-test) ratio is considered (b) Select the formula and calculate Pawnee's days' sales outstanding for 2018. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) = Days' sales outstanding Pawnee's days' sales outstanding v relative to credit terms of net 30 days. Requirement 2. Recommend two ways for Pawnee to speed up its cash flow from receivables. Pawnee could speed up cash flows from receivables by Pawnee Corporation reported the following items at December 31, 2018, and 2017: (Click the icon to view the comparative financial information.) Read the requirements, Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2018. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2018. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) = Quick (acid-test) ratio Cash* + Net current receivables + Inventory Cash* + Other current assets + Equipment Cash* + Short-term investments + Net current receivables Net current receivables + Short-term investments + Inventory ng for 2018. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) = Days' sales outstanding outstanding Pawnee's days' sales outstanding relative to credit terms of net 30 days. Requirement 2. Recommend two ways for Pawnee to speed up its cash flow from receivables. Pawnee could speed up cash flows from receivables by A Data Table - X Balance Sheets (Summarized) Year End 2018 2017 Year End 2018 2017 Current assets: Cash $ Current liabilities: Accounts payable Other current liabilities Long-term liabilities Marketable securities 12,000 $ 23,000 55,000 193,000 5,000 20,000 $ 106,000 20,000 21,500 108,000 21,000 Accounts receivable, net 8,000 12,000 69,000 189,000 5,000 10,000 Inventory Other current assets Stockholders' equity 142,000 142,500 Long-term assets Total assets $ 288,000 $ 293,000 Total liabilities and equity $ 288,000 $ 293,000 Income Statement (partial): 2018 930,000 Sales revenue $ Print [ Done] Print Done Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2018. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2018. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) = Quick (acid-test) ratio i =D Pawnee's quick (acid-test) ratio is considered (b) Select the formula and calculate Pawnee's ng for 2018. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) fairly weak. = Days' sales outstanding very strong. Pawnee's days' sales outstanding relative to credit terms of net 30 days. Requirement 2. Recommend two ways for Pawnee to speed up its cash flow from receivables. Pawnee could speed up cash flows from receivables by (b) Select the formula and calculate Pawnee's days' sales outstanding for 2018. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) | = Days' sales outstanding 365 days V relative to credit terms of net 30 days. Accounts payable for Pawnee to speed up its cash flow from receivables. n receivables by Accounts receivable turnover Average net accounts receivable | Cash Cost of goods sold Inventories Long-term assets Long-term liabilities Net sales revenue Other current assets Other current liabilities Short-term investments Total current assets C Total current liabilities nber in the input fields and then continue to the next question. (b) Select the formula and calculate Pawnee's days' sales outstanding for 2018. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) = Days' sales outstanding terms of net 30 days. om receivables. 365 days Pawnee's days' sales outstanding Accounts payable Requirement 2. Recommend two ways fi Accounts receivable turnover Average net accounts receivable Pawnee could speed up cash flows from Cost of goods sold Inventories Long-term assets Long-term liabilities Net sales revenue Other current assets Other current liabilities Short-term investments Total current assets Choose from any list or enter any numb Total current liabilities ue to the next question. (b) Select the formula and calculate Pawnee's days' sales outstanding for 2018. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) = Days' sales outstanding Pawnee's days' sales outstanding Vrelative to credit terms of net 30 days. Requirement 2. Recommend two sh flow from receivables. is within acceptable range Pawnee could speed up cash flows is too high Requirement 2. Recommend two ways for Pawnee to speed up its cash flow from receivables. Pawnee could speed up cash flows from receivables by V or converting some accounts receivable to long-term note receivables discontinuing the use of credit cards offering discounts for early payments Requirement 2. Recommend two ways for Pawnee to speed up its cash flow from receivables. Pawnee could speed up cash flows from receivables by decreasing penalties for late payments increasing penalties for late payments providing better customer support