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The financial statements of Evans News Inc. include the following items: B (Click the icon to view the financial statements.) Compute the following ratios for
The financial statements of Evans News Inc. include the following items: B (Click the icon to view the financial statements.) Compute the following ratios for the current year a. Current ratio b. Quick (acid test) ratio C. Inventory turnover d. Accounts receivable turnover e. Days' sales in average receivables a. Compute the current ratio for the current year Select the formula and then enter the amounts to calculate the current ratio. (Round the ratio to two decimal places.) Current ratio b. Compute the quick (acid test) ratio for the current year Select the formula and then enter the amounts to calculate the acid-test ratio (Abbreviation used: ST = short-term. Round the ratio to two decimal places.) ) Acid-test ratio + c. Compute the inventory turnover for the current year Begin by selecting the formula and then enter the amounts to calculate inventory turnover. (Round the ratio to two decimal places.) Inventory turnover the innut fields and then continue to the next question d. Compute the accounts receivable turnover for the current year. Select the formula and then enter the amounts to calculate accounts receivable turnover (Round the ratio to two decimal places.) Acounts receivable turnover e. Compute the days' sales in receivables for the current year, Select the formula and then enter the amounts to calculate days' sales in receivables (Use a 365-day year. Round interim calculations and your final answer to the nearest whole number.) Days' sales in receivables Choose from any list or enter any number in the input fields and then continue to the next question. Current Preceding Year Year Balance sheet: Cash $ 18,500 $ 19.500 Short-term investments 8,000 26,500 Net receivables 60,000 69,500 Inventory 77000 68,500 Prepaid expenses 15,000 4,500 Total current assets 178,500 188,500 Total current liabilities 113,000 91,000 Income statement: : Net credit sales $ 657,000 Cost of goods sold 328,500
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