Save Homework: Ch. 12 Homework HW Score: 0%, 0 of 20 pts Question Help Score: 0 of 3 pts 3 of 8 (0 complete) E12-21A (similar to) ati The financial statements of Carver News, Inc., include the following items: (Click the icon to view the financial statements.) Read the requirements Requirement 1. Calculate the following ration 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 ration to two decimal places, XXX) Current ratio 2018 2017 Choose from any list or enter any number in the input fields and then click Check Antwer Clear All Check Answer 10 parts remaining i Data Table 2018 2017 2016 Balance sheet: Cash $ 26,000 $ 32,000 Short-term investments 16,000 .... Net receivables 25,000 24,000 73,000 77,000 8,000 50,000 89,000 12,000 Inventory 63,000 Prepaid expenses Total current assets 214,000 193,000 60,000 Accounts payable 45,000 30,000 99,000 Total current liabilities 131,000 ..... Income statement: Net credit sales $ - 500,000 $ 272,000 508,000 287,000 Cost of goods sold Print Done Clear All the 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? Print Done