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): E (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 sales in receivables to a whole number. Data Table - X (a) Compute Pilgrim's acid-test ratio. (Round your final answer to rchandise; Receiv. = Receivable; Rev. = Revenue. Accounts Payable $ 324,000 Accounts Receivable, net: Cash 437,040 July 31, 2018 $ 120,000 Pilgrim's position is Merchandise Inventory: July 31, 2017 60,000 (b) Compute Pilgrim's accounts receivable turnover ratio. (Round 290,000 Cost of Goods Sold 1,250,000 July 31, 2018 July 31, 2017 230,000 Short-term Investments 144,000 Net Credit Sales Revenue 3,285,000 Other Current Assets 90,000 410,000 Other Current Liabilities 184,000 Evaluate Pilgrim's accounts receivable turnover ratio as strong or Long-term Assets Long-term Liabilities 80,000 Pilgrim's accounts receivable turnover ratio is Irelative to (c) Compute Pilgrim's days' sales in receivables for the year endi Print Done Calculate days' sales in receivables. (Round interim calculations Days' sales in receivables Choose from any list or enter any number in the input fields and then continue to the next
