Abanaki Carpets reported the following amounts in its 2018 financial statements.
The 2017 figures are given for comparison.

Requirements
1. Calculate Abanaki's acid-test ratio for 2018. (Round to two decimals.) Determine whether Abanaki's acid-test ratio improved or deteriorated from 2017 to 2018. How does Abanaki's acid-test ratio compare with the industry average of 0.80?
2. Calculate Abanaki's accounts receivable turnover ratio. (Round to two decimals.) How does Abanaki's ratio compare to the industry average accounts receivable turnover of 10?
3. Calculate the days' sales in receivables for 2018. (Round to the nearest day.) How do the results compare with Abanaki's credit terms of net 30?

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2017 2018 Balance sheet-partial Current Assets: $ 5,000 $ 11,000 Cash Short-term Investments 25,000 14,000 $ 77,000 $ 64,000 Accounts Receivable (7,000) 57,000 (6,000) Less: Allowance for Bad Debts 71,000 Merchandise Inventory 194,000 190,000 Prepaid Insurance 2,000 2,000 Total Current Assets 283,000 288,000 Total Current Liabilities 105,000 107,000 Income statement-partial Net Sales (all on account) 742,400 730,000