The comparative financial statements of Lomax Cosmetic Supply for 2024, 2023, and 2022 include the data...

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The comparative financial statements of Lomax Cosmetic Supply for 2024, 2023, and 2022 include the data shown here: (Click the icon to view the comparative financial data.) Read the requirements. Requirement 1a. Compute the acid-test ratio for 2024 and 2023. (Round to two decimals.) (Abbreviations used: Cash Cash including cash equivalents; ST invest. short-term investments. Round the acid test ratios to two decimals, X.XX.) 2024 2023 Acid-test ratio Requirement 1b. Compute the accounts receivable turnover for 2024 and 2023. (Round to two decimals.) (Abbreviations used: AR turn accounts receivable turnover ratio; Cash Cash including cash equivalents; ST invest. short-term investments. Round the accounts receivable turnover ratios to two decimals, X.XX.) 2024 2023 AR tum Requirement 1c. Compute the days' sales in receivables for 2024 and 2023. (Round to the nearest whole day.) (Abbreviations used: Cash Cash including cash equivalents; ST invest. short-term investments. Round interim calculations to two decimals, X.XX, and the days in receivables to the nearest whole day.) Days' sales in AR 2024 2023 Requirement 2. Considering each ratio individually, which rat 365 The acid-test ratio from 2023 to 2024. This Accounts receivable The accounts receivable turnover from 20 Accounts receivable turnover ratio The days' sales in receivables from 2023 Average accounts receivable Cash s the trend favorable or unfavorable for the company? Data table (Cash + Net current receivables) (Cash + ST invest.) (Cash + ST invest. + Net current receivables) Net credit sales Total current assets Total current liabilities its ratios for 2024 and 2023: io (Round to two decimals.) ceivable turnover (Round to two decimals.) in receivables (Round to the nearest whole day.) ch ratio individually, which ratios improved from 2023 to 2024 s deteriorated? Is the trend favorable or unfavorable for Print Done - Balance sheet-partial Current Assets: 2024 2023 2022 Cash $ Short-term Investments 95,000 $ 150,000 Accounts Receivable, Net 270,000 55,000 $ 185,000 255,000 45,000 130,000 225,000 Merchandise Inventory 345,000 320,000 300,000 Prepaid Expenses 60,000 50,000 55,000 Total Current Assets 920,000 Total Current Liabilities 535,000 865,000 650,000 755,000 650,000 Income statement-partial Net Sales (all on account) 5,880,000 5,140,000 4,280,000 Print Done The comparative financial statements of Lomax Cosmetic Supply for 2024, 2023, and 2022 include the data shown here: (Click the icon to view the comparative financial data.) Read the requirements. Requirement 1a. Compute the acid-test ratio for 2024 and 2023. (Round to two decimals.) (Abbreviations used: Cash Cash including cash equivalents; ST invest. short-term investments. Round the acid test ratios to two decimals, X.XX.) 2024 2023 Acid-test ratio Requirement 1b. Compute the accounts receivable turnover for 2024 and 2023. (Round to two decimals.) (Abbreviations used: AR turn accounts receivable turnover ratio; Cash Cash including cash equivalents; ST invest. short-term investments. Round the accounts receivable turnover ratios to two decimals, X.XX.) 2024 2023 AR tum Requirement 1c. Compute the days' sales in receivables for 2024 and 2023. (Round to the nearest whole day.) (Abbreviations used: Cash Cash including cash equivalents; ST invest. short-term investments. Round interim calculations to two decimals, X.XX, and the days in receivables to the nearest whole day.) Days' sales in AR 2024 2023 Requirement 2. Considering each ratio individually, which rat 365 The acid-test ratio from 2023 to 2024. This Accounts receivable The accounts receivable turnover from 20 Accounts receivable turnover ratio The days' sales in receivables from 2023 Average accounts receivable Cash s the trend favorable or unfavorable for the company? Data table (Cash + Net current receivables) (Cash + ST invest.) (Cash + ST invest. + Net current receivables) Net credit sales Total current assets Total current liabilities its ratios for 2024 and 2023: io (Round to two decimals.) ceivable turnover (Round to two decimals.) in receivables (Round to the nearest whole day.) ch ratio individually, which ratios improved from 2023 to 2024 s deteriorated? Is the trend favorable or unfavorable for Print Done - Balance sheet-partial Current Assets: 2024 2023 2022 Cash $ Short-term Investments 95,000 $ 150,000 Accounts Receivable, Net 270,000 55,000 $ 185,000 255,000 45,000 130,000 225,000 Merchandise Inventory 345,000 320,000 300,000 Prepaid Expenses 60,000 50,000 55,000 Total Current Assets 920,000 Total Current Liabilities 535,000 865,000 650,000 755,000 650,000 Income statement-partial Net Sales (all on account) 5,880,000 5,140,000 4,280,000 Print Done