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Refer to the following selected financial information from Texas Electronics. Compute the company's acid-test ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise
Refer to the following selected financial information from Texas Electronics. Compute the company's acid-test ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 39,300 $ 34,050 108,000 69,000 94,500 88,500 130,000 134,000 13,900 11,500 397,000 347,000 104,400 116,800 720,000 685,000 399,000 384,000 Multiple Choice 3.56. U 2.32. 2.66. 2.45. 3.69. Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales in inventory for Year 2. (Use 365 days a year.) Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 38,300 $ 33,050 98,000 64,000 89,500 83,500 125,000 129,000 12,900 10,500 392,000 342,000 109,400 111,800 715,000 680,000 394,000 379,000 Multiple Choice O 115.8. 44.1, O O 45.7. 82.9. O o 50.0
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