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Prepare any four ratios form the data provided below: B 2020 2019 2 Balance sheet balances 3 Cash $ 11,500 $ 14,500 4 Short-term investments
Prepare any four ratios form the data provided below: B 2020 2019 2 Balance sheet balances 3 Cash $ 11,500 $ 14,500 4 Short-term investments 6,500 10,500 5 Net receivables 6 Inventory 7 Prepaid expenses 8 Total current assets 39,000 35,000 45,500 38,500 3,500 3,500 $106,000 $102,000 9 Total current liabilities $ 69,000 $ 46,000 10 Income statement balances 11 Net credit sales 12 Cost of goods sold $248,500 138,500 Required Compute the following ratios for 2020, showing results to two decimal places: (a) current ratio, (b) acid-test ratio, (c) inventory turnover, (d) days' sales in inventory, (e) accounts receivable turnover, and (f) days' sales in receivables. Hint for (f): hold interim amounts to three decimal places before rounding to two for the final
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