Pilgrim Clothiers reported the following selected items at July 31, 2018 (last year's2017amounts also given as needed): B (Click the icon to view the financial data.) Compute Pilgrim's (a) acid-test ratio, (b) accounts receivable turnover ratio, and (c) days' sales in receivables for the year ending July 31, 2018. Evaluate each ratio value as strong or weak. Pilgrim sells on terms of net 30. (Round days' sales in receivables to a whole number.) (a) Compute Pilgrim's acid-test ratio. (Round your final answer to two decimal places. Abbreviation used: Avg. = Average; Invest. = Investment; Liab. = Liabilities; Merch. = Merchandise; Receiv. = Receivable; Rev. = Revenue.) = Acid-test ratio Pilgrim's position is (b) Compute Pilgrim's accounts receivable turnover ratio. (Round your final answer to two decimal places.) Accounts receivable turnover ratio Evaluate Pilgrim's accounts receivable turnover ratio as strong or weak. Pilgrim's accounts receivable turnover ratio is relative to credit terms of net 30. (c) Compute Pilgrim's days' sales in receivables for the year ending July 31, 2018. (Round days' sales in receivables to a whole number.) Calculate days' sales in receivables. (Round interim calculations to two decimal places, X.XX. Round your final answer to the nearest whole number.) = Days' sales in receivables days Evaluate Pilgrim's days' sales in average receivables as strong or weak. The days' sales in average receivables are relative to credit terms of net 30 Pilgrim Clothiers reported the following selected items at July 31, 2018 (last year's2017amounts also given as needed): B (Click the icon to view the financial data.) Compute Pilgrim's (a) acid-test ratio, (b) accounts receivable turnover ratio, and (c) days' sales in receivables for the year ending July 31, 2018. Evaluate each ratio value as strong or weak. Pilgrim sells on terms of net 30. (Round days' sales in receivables to a whole number.) (a) Compute Pilgrim's acid-test ratio. (Round your final answer to two decimal places. Abbreviation used: Avg. = Average; Invest. = Investment; Liab. = Liabilities; Merch. = Merchandise; Receiv. = Receivable; Rev. = Revenue.) = Acid-test ratio Pilgrim's position is (b) Compute Pilgrim's accounts receivable turnover ratio. (Round your final answer to two decimal places.) Accounts receivable turnover ratio Evaluate Pilgrim's accounts receivable turnover ratio as strong or weak. Pilgrim's accounts receivable turnover ratio is relative to credit terms of net 30. (c) Compute Pilgrim's days' sales in receivables for the year ending July 31, 2018. (Round days' sales in receivables to a whole number.) Calculate days' sales in receivables. (Round interim calculations to two decimal places, X.XX. Round your final answer to the nearest whole number.) = Days' sales in receivables days Evaluate Pilgrim's days' sales in average receivables as strong or weak. The days' sales in average receivables are relative to credit terms of net 30
