Problem 16-43 Liquidity Analysis The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: Beginning balances: Inventory $200,000 Accounts receivable 300,000 Ending balances: Inventory $250,000 Accounts receivable 400,000 Cash $100,000 Marketable securities (short-term) 200,000 Prepaid expenses 50,000 Accounts payable 175,000 Taxes payable 85,000 Wages payable 90,000 Short-term loans payable 50,000 During the year, Arnn had net sales of $2.45 million. The cost of goods sold was $1.3 million. Required: Note: Round all answers to two decimal places. 1.Compute the current ratio. 2.Compute the quick or acid-test ratio. 3.Compute the accounts receivable turnover ratio. 4.Compute the accounts receivable turnover in days. 5.Compute the inventory turnover ratio. 6.Compute the inventory turnover in days.