wersity of Mich... YouTube Canvas Movies Netflix HC HFC Portal WRC Live Without the Drive Fall21 ion A wor! 365 days / Accounts receivable turnover ratio 365 days / Inventory turnover ements en to vie 365 days / Total current assets -a (Cash + Cash equivalents) / Total current liabilities Current answe cash rati (Cash + Prepaid expenses) / Total current liabilities (Cash + STI + Net current receivables) / Total current liabilities Cost of goods sold / Average merchandise inventory acid-test Gross profit / Net sales revenue Net sales revenue / Gross profit me inventor Total current assets / Total current liabilities over Me Solve This DemoDocs Example Get More Help (simil... - X e Financial Statements mpute the (Click the Current Year Preceding Year Balance Sheet: Cash $ 25,000 decimal pla Short-term Investments 21,000 $ 19,000 52,000 22,000 Net Accounts Receivables 76,000 Merchandise Inventory 78,000 14,000 82,000 4,000 Prepaid Expenses Total Current Assets 184,000 131,000 209,000 86,000 Total Current Liabilities Income Statement: 7 Net Credit Sales $ 468,000 310,000 Cost of Goods Sold times - X More Info a. Current ratio b. Cash ratio c. Acid-test ratio d. Inventory tumover e. Days' sales in inventory f. Days' sales in receivables g. Gross profit percentage Print Done Comp! The financial statements of Virginia's Natural Foods include the following items: (Click the icon to view the financial statements.) a. Compute the current ratio for the current year. (Abbreviations used: STI = Short-term investments, Round your answer to two decir Current ratio = Total current assets / Total current liabilities 1.4 b. Compute the cash ratio for the current year. (Round your answer to two decimal places, X.XX.) Cash ratio (Cash + Cash equivalents) / Total current liabilities 0.16 = 0.7 c. Compute the acid-test ratio for the current year. (Round your answer to two decimal places, X.XX.) Acid-test ratio (Cash + STI + Net current receivables)/Total current liabilitles d. Compute the inventory turnover for the current year. (Round your answer to two decimal places, X.XX.) Inventory turnover times