The comparative financial statement of lomax cosmetic supply for 2018, 2017 and 2016 include the data shown in the data table below. (Select from the words seen in the drop down box) Compute these ratios for 2018 and 2017 and round to two decimals 1a. Acid test ratio 1b. Accounts receivable turnover 1c. Days' sales in receivables (Round to nearest whole day) 1d. Considering each ratio individually, which ratios improved from 2017 to 2018 and which ratios deteriorated? Is the trend favorable or unfavorable for the company?

Question Help The comparative financial statements of Lomax Cosmetic Supply for 2018, 2017, and 2016 include the data shown here: EEB (Click the icon to view tha comparative financial data.) Read the requirements Re ure ment ampu e lhe aad est rali? for 2018 and 2 7 ound o two decarnals Abbrev aions used ash Cash 'nalutin cash equn alerts T rves short-temn investments ound the aad lest raicsto two dec nals X. . a - Acid-test ratio 2017 365 Accounts receivable Accounts recelvable turnover ratio Average accounts receivable urnaver viations used: AR tum-accounts rsoaivable turnaver ratio; Cash Cash including cash equivalants; ST inwest-shart-Herm investmants. Round the accounts recaivabla Requircment 1b. Compue the acocunts racivab tumower ratias to two decimals, X.XX) J L Cash Data Table AR turn 2018 2017 Requirement 1c. Compute the days' sales in eceivables for (Cash+Net current receivables) , ? (Cash + ST innst.) Cash +ST invest.+Net current receivables) Net crecit sales Total current assets Total current liabilities 2018 2017 2016 Abbreviations used: CashCash including cash equivalents; ST invest recahvables to the nearest who e day.) Balance sheet-partial CurrentAels: ys' sales in AR 2018 2017 Requirement 2. Consldering each rato indvidually, which ratos improved from 2017 to 2018 and which ratios deterlorated? ls the trend favorable or unfavorable for the company? The acid-test ratio Tha accounts recaivable tumover Cash Short-tarm Invastments Accounts Recevable, Net Merchandise Inventory Prepaid Expenses Tolal Current Assels S 90,000 S 70,000 $ 45,000 50,000 4,0CO 110,000 245,000 335,000 310,0C0 295,000 25,000 720,000 570,000 650,000 645,000 285,000 286,000 fram 2017 to 2018. This trend the company. 80,000 50,000 from 2017 to 2018. This trend the company 40,000 84,0O Total Current Llabllties Income statement-partial Nel Sales (all on account) The days' sales in receivebles ? | from 2017 to 2018. This trend | the company. 5,880,00D 5,150,000 4,220,000 Print Done Choose from any list or enter any number in the input fields and then continue to the next