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Requirements Las 1. Compute these ratios for 2024 and 2023: a. Acid-test ratio (Round to two decimals.) b. Accounts receivable turnover (Round to two decimals.) c. Days' sales in receivables (Round to the nearest whole day.) 2. Considering each ratio individually, which ratios improved from 2023 to 2024 and which ratios deteriorated? Is the trend favorable or unfavorable for the company? ST Print Done any Data table 2024 2023 2022 Balance sheet-partial Current Assets: Cash $ 75,000 $ 65,000 $ 55,000 Short-term Investments 145,000 155,000 115,000 265,000 Accounts Receivable, Net Merchandise Inventory 365,000 60,000 230,000 335,000 30,000 245,000 290,000 25,000 Prepaid Expenses Total Current Assets 730,000 910,000 575,000 815,000 615,000 625,000 Total Current Liabilities Income statement-partial Net Sales (all on account) 5,840,000 5,150,000 4,230,000 DV ba Print Done 24 Requirement 1a. Compute the acid-test ratio for 2024 and 2023. (Round to two decimals.) (Abbreviations used: Cash=Cash including cash equivalents ST invest. = short-term inves Acid-test ratio 2024 2023 Requirement 1b. Compute the accounts receivable tumover for 2024 and 2023. (Round to two decimals. (Abbreviations used: AR tum accounts receivable tumover ratio Cash=C Investments Round the accounts receivable turnover ratios to two decimals, XXX) AR turn 2024 2023 Requirement 1c. Compute the days' sales in receivables for 2024 and 2023. (Round to the nearest whole day.) (Abbreviations used: Cash Cash including cash equivalents; ST Invest decimals, XXX, and the days in receivables to the nearest whole day = Days' sales in AR 2024 2023 Requirement 2. Considering each ratio individually, which ratios improved from 2023 to 2024 and which ratios deteriorated? is the trend favorable or unfavorable for the company? The acid-lest ratio from 2023 to 2024. This trend the company The accounts receivable turnover from 2023 to 2024. This trend w the company The days' sales in receivables from 2023 to 2024. This trend the company