Question Help iz %E12-21A (similar to) alv The financial statements of Carver News, Inc., include the following items: (Click the icon to view the financial statements.) Read the requirements S Requirement 1. Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number. a. Current ratio. Select the formula and then enter the amounts to calculate the current ratio. (Round the ratios to two decimal places, XXX) Current assets Current liabilities Current ratio 2018 $ 193,000 131,000 1.47 2017 $ 214,000 15 99,000 2.16 b. Quick (acid-test) ratio Select the formula and then enter the amounts to calculate the acid-test ratio. (Abbreviations used: Avg "averago, ST = short-term, and Cash cash and cash equivalents. Round the ratios to two decimal places, X.XX.) ) = Acid-test ratio ) 2018 ( 2017 ( cial statements.) i Requirements 1 a. 1. Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number. Current ratio b. Quick (acid-test) ratio C. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover e. Days' sales in average receivables or days' sales outstanding (DSO) f. Accounts payable turnover and days' payable outstanding (DPO). Use cost of goods sold in the formula for accounts payable turnover. g. Cash conversion cycle (in days) (When calculating days, round your answer to the nearest whole number.) 2. Evaluate the company's liquidity and current debt-paying ability for 2018. Has it improved or deteriorated from 2017? 3. As a manager of this company, what would you try to improve next year? nd Print Done - cold and then clin Chant Anwar rver finar Data Table im follo 2016 2018 2017 Balance sheet: $ Cash ntert 26,000 $ 32,000 24,000 73,000 Short-term investments Net receivables 16,000 50,000 89,000 12,000 . 25,000 63,000 Inventory 77,000 8,000 Prepaid expenses Total current assets 193,000 214,000 ar nter til to two 30,000 45,000 Accounts payable Total current liabilities 60,000 131,000 99,000 Income statement: Net credit sales $ 508,000 + 500,000 $ 272,000 Cost of goods sold 287,000 Print Done er any