Pilgrim Products reported the following amounts in its 2019 financial statements. The 2018 amounts are given for comparison Click the loon to view the financial data) Read the requirements Requirement 1. Compute Plgrim's quick acid-test)ratis at the end of 2010. Round to two decimal places. How does the quick ratio compare with the industry average of 0.027 Begin by selecting the formula, then enter the amounts and compute the quick (ack-400) roto (Abbreviation used: Cash Cash and cash equivalents. Round the quick (och ) ratio to two decimal places) Cash+ Short-term investments + Net current receivables Total current liabides Quick (acid-test) ratio $ 105,350 107.500 0.90 How does the quick (acid-test) ratio compare to the industry average of 0.927 Pilgrim's position is favorable compared to the industry average of 0.92 Requirement 2. Compare days' sales outstanding for 2010 with the company's credit forms of net 30 days. Begin by selecting the formula, then enter the amounts to calculate the days' sales outstanding (Round interim calculations to two decimal places, XXXX and the days' sales outstanding (080) up to the next whole day) 365 days Accounts receivable turnover Days' sales outstanding days 1 2019 financial statements. The 2018 amounts are given for comparison. - X Data Table ra bf 2019 2018 nts ( Current assets: iv Cash $ $ 9,850 Short-term investments 13,500 9,850 16,500 $ 75,300 79,000 (3,500) ng Accounts receivable $ 84,500 (5,500) nd Less: Allowance for uncollectibles 71,800 Inventory or 192,000 2,100 193,500 2,100 Prepaid insurance nts 299,450 sale Total current assets Total current liabilities. 290,750 nts 107,500 108,000 Net sales (all on account) 1,131,000 730,000 Print Done