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!!!!!!!!!!! PLEASE ANSWER ALL PARTS !!!!!!!!!!! The comparative financial statements of True Beauty Cosmetic Supply for 2018, 2017, and 2016 include the data shown here:
!!!!!!!!!!! PLEASE ANSWER ALL PARTS !!!!!!!!!!!
The comparative financial statements of True Beauty Cosmetic Supply for 2018, 2017, and 2016 include the data shown here: (Click the icon to view the comparative financial data.) Read the requirements. 2018 2017 2016 $ Balance sheet-partial Current Assets: Cash Short-term Investments Accounts Receivable, Net Merchandise Inventory 90,000 $ 150,000 285,000 65,000 $ 160,000 230,000 325,000 10,000 60,000 125,000 240,000 280,000 40,000 350,000 60,000 Prepaid Expenses Total Current Assets Total Current Liabilities Income statement-partial Net Sales (all on account) 935,000 530,000 790,000 635,000 745,000 660,000 5,840,000 5,180,000 4,240,000 1. Compute these ratios for 2018 and 2017: a. Acid-test ratio (Round to two decimals.) b. Accounts receivable turnover (Round to two decimals.) c. Days' sales in receivables (Round to the nearest whole day.) 2. Considering each ratio individually, which ratios improved from 2017 to 2018 and which ratios deteriorated? Is the trend favorable or unfavorable for the companyStep by Step Solution
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