The financial statements of Harris News, Inc., indude the following items: (Click the icon to view the financial statements.) Read the requirements. i Data Table Requirement 1. Calculate the following ratios for 2018 and 2017. When a. Current ratio. 2018 2017 2016 Balance sheet: Select the formula and then enter the amounts to calculate the current rati Current assets 4 Current liabilities 2018 $ 180,000 1 S 136,000 2017 $ 210,000 1 S 98.000 $ 28.000 Cash Short-term investments Net receivables 22,000 S 14,000 33.000 69.000 25,000 b. Quick (acid-test) ratio. Inventory 46,000 92,000 6,000 68,000 76,000 4.000 Select the formula and then enter the amounts to calculate the acid-testra S. Round the ratios to two decimal places, X.XX.) Prepaid expenses Total current assets Cash + Avg net receivables + ST investm 180,000 210.000 85,000 45.000 50,000 + 2018 2017 ( + 136,000 98,000 + Accounts payable Total current liabilities Income statement: Net credit sales Cost of goods sold ........8 490,000 S 271,000 512,000 284.000 Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? The financial statements of Harris News, Inc., include the following items: (Click the Icon to view the financial statements.) Read the requirements. Data Tabla Requirement 1. Calculate the following ratios for 2018 and 2017. When * Requirements a. Current ratio. Select the formula and then enter the amounts to calculate the current rati Current assets 4 Current liabilities 2018 $ 180,000 1 S 136,000 2017 $ 210,000 1 S 98.000 b. Quick (acid-test) ratio. e. Select the formula and then enter the amounts to calculate the acid-test ra 1. Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number. a. Current ratio b. Quick (acid-test) ratio 6. Inventory turnover and days' inventory outstanding (D10) d. Accounts receivable tumover 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? S. Round the ratios to two decimal places, X.XX.) Cash + Avg net receivables + ST investr + 2018 2017 ( + + Print Dane DON Choose from any list or enter any number in the input fields and then click Check
