Selected data from Charlie's Balance Sheet and Income Statement 1) Calculate the quick (acid test) ratio 2) Calculate times-interest-earned 3) Calculate return on total assets 4) Calculate debt-to-total assets 2018 2017 Cash $50,000 $49,000 Short-term investments 28,000 27,000 Net receivables 115,000 128,000 Inventory 240,000 268,000 Prepaid expenses 22,000 8,000 Total assets 510,000 540,000 Total current liabilities 207,000 262,000 Long-term debt 97,000 174,000 Income from operations 301,000 150,000 Interest expense 41,000 42,000

1) Calculate the quick (acid test) ratio

2) Calculate times-interest-earned

3) Calculate return on total assets

4) Calculate debt-to-total assets