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The comparative financial statements of Walters Company for 2019, 2018, and 2017 contain the following selected data: 2019 2018 2017 Cash and Cash Equivalents $80

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The comparative financial statements of Walters Company for 2019, 2018, and 2017 contain the following selected data: 2019 2018 2017 Cash and Cash Equivalents $80 $75 $60 Short-Term Investments 100 100 100 Accounts Receivable, net 230 2251 250 Inventory 500 400 300 Prepaid Insurance 501 60 701 Accounts Payable 200 2001 200 Interest Payable 300 2001 100 Short-Term Note Payable 1,000 500 200 Long-Term Note Payable 1,000 500 100 Net Cash Sales 2,000 1,500 1.000 Net Credit Sales 2,000 1,900 1,800 Compute the following ratios for 2019 and 2018 and indicate which ratios improved and which ratios deteriorated: a. Quick ratio b. Days' sales outstanding

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