The financial statement of Hernandez and Sons, Inc. include the following them (ck the icon to view the financial statements) Read the requirement Requirement ta. Compute the current ratio Select the formula and then enter the amounts to calculate the current ratio for the current year. (Round your answer to two decimal places) Current assets Current Current ratio $ 152,000 80,000 1.90 Requirement 1b. Compute the quick ratio. (Round your answer to two decimal places Cash ST investments + Net current receivables Current liabilities - Quick ratio 13,000 18.000 58.000 YS 80,000 1.11 Requirement 1c. Compute the cash conversion cyclo. (Do not round any intermediary calculations. Round to the nearest full day and use a 365-day year for your computation) Cash conversion Day-sales-in-inventory AR collection period AP payment Period cydo 50 61 46 + 65 days -, include the following items: Requirement 1. Compute the following ratios for the current year: (a) current ratio, (b) quick ratio, (c) cash conversion cycle, (d) accounts receivable turnover, (e) inventory turnover, (f) gross profit percentage, and (g) net income percentage. Round all calculations to two decimal places, days to full days, and percentages to the nearest tenth of a percent. Assume all sales are on credit (Abbreviations used: A/R = Accounts receivable, Avg = Average, ST = Short- term.) ul pur com Print Done 46 11 65 days Question . ETZ-TOATSI.. HW Score: 44.62%, 4.46 of 10 points of 2 Data table Current Year Previous Year Balance Sheet 13,000 $ 18,000 58,000 45,000 29,000 71,000 55.000 56,000 Cash Short-term investments Accounts receivables, net Inventory Prepaid expenses Total current assets Accounts payable Total current liabilities - 8,000 152,000 7,000 208,000 ... 47,000 80,000 38,000 97,000 Income Statement r your computation Net sales $ 463,000 = Homework: Ch12 HW Question 3. E12-16A (SI. HW Score: 44 Data table The financial statements of Hernandez and Sons, Ina, in (Click the icon to view the financial statements.) $ Read the requirement Requirement 1a. Compute the current ratio. Select the formula and then enter the amounts to calculate Current assets Current liability 152.000 80,000 Requirement 1b. Compute the quick ratio. (Round your a Cash ST investments 13,000 18,000 Requirement 1c. Compute the cash conversion cycle. (D Cash Short-term investments Accounts receivables, net Inventory Prepaid expenses Total current assets Accounts payable Total current liabilities Income Statement Net sales Cost of goods sold Net income 13,000 $ 18,000 58,000 55,000 8,000 152,000 47,000 80,000 45,000 29,000 71,000 56,000 7,000 208,000 38,000 ,000 $ 463,000 331,700 49,000 Days-sales-in-inventory 50 A/R collection peri 61 Print Done
