Use the selected data from Pinecrest Company's financial statements to answer the following question. 2018 2017 Cash $ 22.000 $ 14,000 Accounts receivable 42,000 16,000 Merchandise iventory 22.000 83.000 Prepand expenses 23.000 18.000 Total current assets $109.000 $131.000 Total current liabilities $ 65,000 $ 72,000 Net credit sales 221 000 326,000 168,000 299,000 Cost of goods sold Net cash flow from operating activities 16.000 29,000 38. Refer to the data for Pinecrest Company The current ratio for 2018 is a 0.60 to 1 6.0.99 to 1 c. 134 to 1 d. 168 to 1. 39. Refer to the data for Pinecrest Company. Which of the following statement is true! a. The current ratio increased from 2017 to 2018 b. The acid-test ratio decreased from 2017 to 2018 The amount of working capital decreased from 2017 to 2018 d. Assuming extreme conditions do not exist the company appears to be is a worse position to pay its current debts at the end of 2018 compared to 2017 40. Refer to the data for Pinecrest CounWhich of the following statements is true? a. Net income must be at least $36,000 for 2018 b. Net income must be less than $36,000 for 2018 Cash flows from operating activities is twice a large as net incoce for 2018 d. The amount of met income for 2018 cannot be determined based on the data provided