The comparative financial statements of Investments for , , and included the following selected data: LOADING... (Click the icon to view the comparative financial data.) Required 1. Compute these ratios for 2020 and 2019, assuming that all sales are on account: a. Current ratio b. Acid-test ratio c. Days' sales in receivables d. Accounts receivable turnover 2. Write a memo explaining to Abram Khanna, owner of Sentry Investments, which ratio values showed improvement from 2019 to 2020 and which ratio values showed deterioration. Discuss whether these factors convey a favourable or an unfavourable impression about the company. 2020 2019 2018 (In thousands) Balance Sheet Current assets: Cash $610 $585 $560 Short-term investments 320 385 320 Receivables, net 565 525 570 Inventories 795 710 580 Prepaid expenses 200 35 140 Total current assets $2,490 $2,240 $2,170 Total current liabilities $1,090 $1,070 $1,410 Income Statement Sales revenue $10,700 $10,100 $7,600