The comparative financial statements of Gold Pools, Inc., for 2020, 2019, and 2018 included the following select data: (Click the icon to view the comparative financial data.) Read the requirements Requirement 1. a. Compute the current ratios for 2020 and 2019. (Round your final answers to two decimal places, X.XX.) 2020 2019 Current ratio = Requirement 1. b. Compute the quick (acid-test) ratios for 2020 and 2019. (Round your final answers to two decimal places, X.XX.) 2020 2019 Quick (acid-test) ratio = Requirement 1. c. Compute the days' sales outstanding for 2020 and 2019. (Round interim calculations to two decimal places, XX.XX and the amounts you enter into the answer boxes (DSO) up to the next whole day.) 2020 2019 - X Data Table days Days' sales outstanding (DSO) = days Requirement 2. Which ratios improved from 2019 to 2020 and which ratios deteriorated? Is this trend favorable or unfavorable? The current ratio from 2019 to 2020. The quick ratio V from 2019 to 2020. The days' sales outstanding (In millions) This trend the company. 2020 2019 2018 Requirement 3. Recommend two ways for Gold Pools to improve cash flows from receivables. Balance sheet Gold Pools can improve cash flows from receivables by either and/or Current assets Cash $ 75 $ 85 $ 60 x 145 155 130 0 Requirements Investment in trading securities Receivables, net of allowance for uncollectible accounts of $7, $6, and $4, respectively Inventories 250 240 230 320 315 340 80 10 35 Prepaid expenses Total current assets $ 890 $ 770 1. Compute the following ratios for 2020 and 2019: a. Current ratio b. Quick (acid-test) ratio c. Days' sales outstanding 2. Which ratios improved from 2019 to 2020 and which ratios deteriorated? Are each of the trends favorable or unfavorable? 3. Recommend two ways for Gold Pools to improve cash flows from receivables. 810 $ 600 $ Total current liabilities $ 540 $ 690 Income statement Net sales (all on account) $ 6,370 $ 5,405 $ 4,015