Silver Clothiers reported the following selected items at April 30, 2023 (previous year’s—2022—amounts also given as needed):

Compute Silver’s 

(a) Acid-test ratio, 

(b) Accounts receivable turnover ratio, and 

(c) Days’ sales in receivables (using the turnover ratio) for the year ending April 30, 2023. Evaluate each ratio value as strong or weak. Silver sells on terms of net 30. 

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Accounts Payable Cash................... Inventory April 30, 2023 April 30, 2022 Net Credit Sales Revenue....... Long-term Assets...... Long-term Liabilities......... $ 328,000 573,720 250,000 210,000 3,212,000 350,000 130,000 Accounts Receivable, net April 30, 2023...................$ April 30, 2022................. Cost of Goods Sold.............. Short-term Investments........ 11,000 165,000 1,200,000 148,000 Other Current Assets.......... 100,000 Other Current Liabilities..... 188,000