The financial statements of Evans News, Inc., include the following items: (Click the icon to view the financial statements.) Requirements Requirement 1. Compute the following ratios for 2020 and 2019. a. Current ratio. Select the formula, and then enter the amounts to calculate the current ratio. (Round the ratios to two decimal places.) 2020 2019 2020 ( 2019 ( b. Quick (acid-test) ratio. Select the formula, and then enter the amounts to calculate the acid-test ratio. (Abbreviation 2020 2019 + + 2020 = + || | || c. Inventory turnover and days' inventory outstanding (DIO). Begin by selecting the formula, and then enter the amounts to calculate inventory turnover. ( Inventory turnover = Current ratio = = Now, select the formula, and then enter the amounts to calculate days' inventory outstanding = Days' inve = II Data table Balance sheet: Cash Short-term investments Net receivables Inventory Prepaid expenses Total current assets Accounts payable Total current liabilities Income statement: Net credit sales Cost of goods sold .. ... $ $ 2020 41,000 $ 8,000 75,000 92,000 4,000 220,000 60,000 130,000 493,000 $ 276,000 2019 67,000 22,000 78,000 75,000 5,000 247,000 35,000 92,000 509,000 279,000 2018 = 25,000 65,000 15,000 two decimal places.) earest whole number.) b. Quick (acid-test) ratio. Select the formula, and then enter the amounts to calculate the acid-test ratio. (Abbreviations used: Avg = average, ST short-term, and Cash* = cash and cash equivalents. Round the ratios to two decimal places.) ( 2020 ( 2019 ( + 2020 2019 + 2020 2019 = c. Inventory turnover and days' inventory outstanding (DIO). Begin by selecting the formula, and then enter the amounts to calculate inventory turnover. (Round the ratios to two decimal places.) Inventory turnover = = 2020 2019 Now, select the formula, and then enter the amounts to calculate days' inventory outstanding (DIO). (Enter ratios to two decimal places and use a 365-day year. Round your final answers to the nearest whole number.) Days' inventory outstanding (DIO) II = = Accounts receivable turnover = = = = = d. Accounts receivable turnover. Select the formula, and then enter the amounts to calculate accounts receivable turnover. (Round the ratios to two decimal places.) II Acid-test ratio e. Days' sales in average receivables or days' sales outstanding (DSO). Select the formula, and then enter the amounts to calculate days' sales in average receivables or days' sales outstanding (DSO). (Enter ratios to two decimal places and use a 365-day year. Round your final answers to the e. Days' sales in average receivables or days' sales outstanding (DSO). Select the formula, and then enter the amounts to calculate days' sales in average receivables or days' sales outstanding (DSO). (Enter ratios to two decimal places and use a 365-day year. Round your final answers to the nearest whole number.) 2020 2019 2020 2019 f. Accounts payable turnover and days' payable outstanding (DPO). Use cost of goods sold the formula for accounts payable turnover. Begin by selecting the formula, and then enter the amounts to calculate accounts payable turnover. (Round the ratios to two decimal places.) Accounts payable turnover 2020 2019 = 2020 2019 = Now, select the formula, and then enter the amounts to calculate days' payable outstanding (DPO). (Enter ratios to two decimal places and use a 365-day year. Round your final answers to the nearest whole number.) Days' payable outstanding (DPO) Ratio = = = = = Days' sales outstanding (DSO) g. Cash conversion cycle (in days). (Abbreviations used: Avg = average and ST short-term.) B = = Cash conversion cycle Requirement 2. Evaluate the company's liquidity and current debt-paying ability for 2020. Has it improved or deteriorated from 2019? Improved or Deteriorated 2020 2019 Now, select the formula, and then enter the amounts to calculate days' payable outstanding (DPO). (Enter ratios to two decimal places and use a 365-day year. Round your final answers to the nearest whole number.) Days' payable outstanding (DPO) 2020 2019 2020 2019 g. Cash conversion cycle (in days). (Abbreviations used: Avg = average and ST = short-term.) 1 + Ratio = a. Current ratio b. Quick (acid test) ratio c. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover = and = = Requirement 2. Evaluate the company's liquidity and current debt-paying ability for 2020. Has it improved or deteriorated from 2019? Improved or Deteriorated = e. Days' sales in average receivables or days' sales outstanding (DSO) f. Accounts payable turnover and days' payable outstanding (DPO) g. Cash conversion cycle (in days) Requirement 3. As a manager of this company, what would you try to improve next year? The factors that need the most improvement are Cash conversion cycle The company needs to make sales and keep inventory on hand, as well as