The comparative financial statements of Northend Cosmetic Supply for 2018, 2017, and 2016 include the data shown here: (Click the icon to view the comparative financial data.) Read the requirements. Requirement 1a. Compute the acid-test ratio for 2018 and 2017. (Round to two decimals.) (Abbreviations used: Cash Cash including cash equivalents; ST invest. = short-term investments. Round the acid test ratios to two decimals, X.XX.) + Acid-test ratio 2018 2017 + Requirement 1b. Compute the accounts receivable turnover for 2018 and 2017. (Round to two decimals.) (Abbreviations used: AR turn = accounts receivable turnover ratio; Cash = Cash including cash equivalents; ST invest. = short-term investments. Round the accounts receivable turnover ratios to two decimals, X.XX.) 2018 2017 + AR turn Requirement 1c. Compute the days' sales in receivables for 2018 and 2017. (Round to the nearest whole day.) (Abbreviations used: Cash = Cash including cash equivalents; ST invest. = short-term investments. Round interim calculations to two decimals, X.XX, and the days in receivables to the nearest whole day.) 2018 2017 + = Days' sales in AR Requirement 2. Considering each ratio individually, which ratios improved from 2017 to 2018 and which ratios deteriorated? Is the trend favorable or unfavorable for the company? The acid-test ratio The accounts receivable turnover The days' sales in receivables Data Table from 2017 to 2018. This trend the company. from 2017 to 2018. This trend the company. from 2017 to 2018. This trend the company. Requirements - 2018 2017 2016 1. Compute these ratios for 2018 and 2017: Balance sheet-partial Current Assets: Cash 75,000 $ Short-term Investments 165,000 55,000 $ 145,000 45,000 Accounts Receivable, Net 265,000 260,000 105,000 245,000 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 2017 to 2018 and which ratios deteriorated? Is the trend favorable or unfavorable for the company? Merchandise Inventory 330,000 Prepaid Expenses 55,000 320,000 305,000 15,000 60,000 Print Done Total Current Assets 890,000 Total Current Liabilities 530,000 795,000 760,000 635,000 620,000 Income statement-partial ext question. Net Sales (all on account) 5,870,000 5,150,000 4,250,000