Short-Term Solvency Ratios Following are financial data from year-end financial statements of Portland Company for the last three years.

	20X3	20X2	20X1
Accounts receivable	$149,700	$159,100	$145,200
Cost of goods sold	1,072,875	914,595	1,056,000
Current assets	495,000	396,000	445,500
Current liabilities	300,000	247,500	341,000
Inventory	246,000	183,150	214,500
Sales	1,761,125	1,633,375	1,320,000

a. Compute the following financial ratios for the most recent two years (20X3 and 20X2). (Assume Portland Companys current assets include cash, accounts receivable, marketable securities, and inventory.)

• Round current ratio, acid test ratio and inventory turnover answers to two decimal places.
• Round Days sales in receivables to the nearest whole number (day).

	20X3	20X2
1. Current ratio	Answer	Answer
2. Acid test ratio	Answer	Answer
3. Inventory turnover	Answer	Answer
4. Days sales in receivables	Answer	Answer