Ques Lantana Products reported the following amounts in its 2010 francial statements. The 2018 amounts we given for comparison Cok the icon to view the financial data) Read the requirements. Requirement 1. Compute Lantana's quick acid-test) rato at the end of 2018. Round to two decimal places. How does the quick rano compare with the industry average of our Begin by selecting the formula, then enter the amounts and compute the quick (adio-test) ratio (Abreviation used Car Cash and cash equivalents. Round the quick acistest ratio to two decimal places) Quick (acid-est ratio How does the quick (acitet ratio compare to the industry average of 0.927 Lantana's position is compared to the industry average of 0.02. Requirement 2. Compare de les outstanding for 2018 win the company's creator of net 30 days Begin by selecting the forma thenever the amounts to cate the day sales outstanding (Round in - Daye sales outstanding t o two decimal places, xx.xx and the day' standing (OS) to the next whole day) Lantara's days' ses outstanding is the credit terms of net 30. Choose from any list or ente Data Table 2019 2018 Current assets: Cash .............. 9,500 10,500 9,500 6,000 ... $ $ 70,100 86,500 (7,500) (5,500) Short-term investments ... Accounts receivable Less: Allowance for uncollectibles Inventory Prepaid insurance Total current assets Total current liabilities Net sales (all on account) 79,000 191,000 2,600 64,600 192,500 2,600 292,600 99,000 646,200 275,200 108,000 735,000 Print Done