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The following financial data were taken from the annual financial statements of Smith Corporation: 2009 2010 2011 Current assets $ 450,000 $400,000 $500,000 Current liabilities 390,000 300,000 340,000 Sales 1,450,000 1,500,000 1,400,000 Cost of goods sold 1,180,000 1,020,000 1,120,000 Inventory 280,000 200,000 250,000 Accounts Receivable 120,000 110,000 105,000 Required: a) Based on these data, calculate the following for years 2010 2011: i) Working capital ii) Current ratio Acid-test ratio iv) Account receivable turnover v) Inventory turnover in days b) Evaluate the results of your computations in regard to the short-term liquidity of the firm