The financial statements of Smith News, Inc., include the following items: (Click the icon to view the financial statements.) Read the requirements. Requirement 1. Calculate the following ratios for 2021 and 2020. 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.) 2021 2020 Current assets Requirements Current liabilities = = Current ratio Data table 1. Calculate the following ratios for 2021 and 2020. When calculating days, round your answer to the nearest whole number. a. Current ratio b. Quick (acid-test) ratio c. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover e. 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 2021. Has it improved or deteriorated from 2020? 3. As a manager of this company, what would you try to improve next year? Net receivables Inventory Prepaid expenses 2021 2020 2019 Balance sheet: Cash $ 18,000 $ 24,000 Short-term investments 13,000 21,000 42,000 65,000 30,000 91,000 75,000 62,000 4,000 9,000 Total current assets 168,000 194,000 Accounts payable 65,000 60,000 40,000 Total current liabilities 131,000 91,000 Income statement: Net credit sales $ 500,000 $ 513,000 Cost of goods sold 275,000 277,000