Velvet Electronics, which makes DVD players, reported the following items at July 31, 2020, (amounts in thousands, with last year's-2019-amounts also given as needed) (Click the icon to view the financial data.) Computo for 2020 Velvet Electronics's (a) acid-test ratio, (b) days' sales in average receivables, (c) current ratio (d) debt ratio, (e) gross margin percent, and (1) inventory turnover Evaluate each ratio value as strong or weak. Assume Velvet Electronics sells on terms of net 30 (a) Calculate the acid-test ratio for 2020 (Round your final answer to two decimal places.) Acid-test ratio Velvet Electronics, which makes DVD players, reported the following items at July 31, 2020, (amounts in thousands, with last year's-2019-amounts also given as needed) (Click the icon to view the financial data.) Computo for 2020 Velvet Electronics's (a) acid-test ratio, (b) days' sales in average receivables, (c) current ratio (d) debt ratio, (e) gross margin percent, and (1) inventory turnover Evaluate each ratio value as strong or weak. Assume Velvet Electronics sells on terms of net 30 (a) Calculate the acid-test ratio for 2020 (Round your final answer to two decimal places.) Acid-test ratio