Pendery Homework: Ch. 5 Homework Score: 0 of 3 pts 7 of 7 (4 complete) HWS P5-61A (similar to) The comparative financial statements of Lomax Pools, Inc., for 2020, 2019 and 2018 included the following select data: DE! Click the icon to view the comparative financial data) Read the requirements Requirement 1. a. Compute the current ratios for 2020 and 2019. (Round your final answers to two decimal places, XXX) 2020 2019 Current ratio * Requirements - X 1. Compute the following ratios for 2020 and 2019 a. Current ratio b. Quick (acid-test) ratio c Days' sales outstanding 2. Which ratios improved from 2019 to 2020 and which ratios deteriorated? Are each of the trends favorable or unfavorable? 3. Recommend two ways for Lomax Pools to improve cash flows from receivables Enter any nume Punt Done 4 parts Check AI remaining of u ativ - X Data Table nt (In millions) 2020 2019 2018 Balance sheet Current assets $ 70 $ 75 $ 35 125 180 115 Cash Investment in trading securities Receivables, net of allowance for uncollectible accounts of $7. $6. and $4. respectively Inventories 290 250 365 75 340 30 220 340 40 $ 875 $ 750 Prepaid expenses Total current assets Total current liabilities Income statement Net sales (all on account) 925 $ 560 $ HINC 610 $ 660 $ 7.290 $ 5,170 $ 4.745 and Print Done Clear All