The financial statements of Baca Bay Ltd. include the following items:

Required
Compute the following ratios for 2014:
(a) Current ratio,
(b) Acid-test ratio,
(c) Inventory turnover,
(d) Accounts receivable turnover, and (e) days' sales in average receivables.

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2014 2013 Balance sheet Cash Short-term investments Net receivables Inventory Prepaid expenses Total current assets Total current liabilities $ 11,500 $ 14,500 10,500 35,000 39,000 45,500 3,500 $106,000 $69,000 3,500 $102,000 $46,000 Income statement Net credit sales Cost of goods sold $248,500 138,500