The financial statements of Hernandez and Sons, Inc., include the following items: (Click the icon to view the financial statements.) Read the requirement. Data Table Requirement 1a. 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 Year Previous Year Current assets 176,000 Current liabilities 102,000 Current ratio 1.73 $ Balance Sheet Cash . . . . . . . . . . . . . . . . . ... $ 15,000 $ Requirement 1b. Compute the quick ratio. (Round your answer to two decimal places.) Cash 15,000 + + $ ST investments 17,000 + Net current receivables + $ 61,000 / / $ Current liabilities 102,000 = = 17,000 61,000 76,000 Quick ratio 0.91 ($ 43,000 35,000 86,000 39,000 14,000 Requirement 1c. Compute the cash conversion cycle. (Do not round any intermediary calculations. Round to the nearest full day and use a 365-day year for your computations. 7,000 Short-term investments ..... Accounts receivables, net Inventory ................ Prepaid expenses ..... Total current assets Accounts payable ......... Total current liabilities .. Income Statement Cash conversion 217,000 Average inventory Cost of goods sold 176,000 46,000 102,000 cycle 41,000 + days 89,000 + Net sales ................ $ Cost of goods sold 500,000 319,000 52,000 Net income