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The financial statements of Advent News, Inc., Include the following items: (Click the icon to view the financial statements.) Read the requirements Requirement 1. Calculate

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The financial statements of Advent News, Inc., Include the following items: (Click the icon to view the financial statements.) Read the requirements Requirement 1. Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number. a. Current ratio. Select the formula and then enter the amounts to calculate the current ratio. (Round the ratios to two decimal places, X.XX) Dat Current ratio 2018 2017 B - X Requirements a. e. 1. Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number. Current ratio b. Quick (acid-test) ratio c. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover Days' sales in average receivables or days' sales outstanding (DSO) f. Accounts payable turnover and days' payable outstanding (DPO). Use cost of goods sold in the formula for accounts payable turnover. g. Cash conversion cycle (in days) (When calculating days, round your answer to the nearest whole number.) 2. Evaluate the company's liquidity and current debt-paying ability for 2018. Has it improved or deteriorated from 2017? 3. As a manager of this company, what would you try to improve next year? - -X Data Table 2018 2017 2016 Balance sheet: Cash $ 77,000 $ 103,000 Short-term investments 15,000 Net receivables 81,000 60,000 33,000 84,000 76,000 8,000 Inventory 67,000 97,000 13,000 Prepaid expenses Total current assets ... Accounts payable 283,000 70,000 129,000 304,000 25,000 98,000 60,000 Total current liabilities Income statement: Net credit sales $ + 497,000 $ 272,000 514,000 282,000 Cost of goods sold Print Done

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