Southside Clothiers reported the following items at September 30

Southside Clothiers reported the following items at September 30, 2012 (last year€™s€”2011€”amounts also given as needed):

Accounts payable $ 320,000 Accounts receivable, net: September 30, 2012 $ 270,000 Cash Inventories September 30, 2012 Se

Requirement
1. Compute Southside€™s
(a) Acid-test ratio,
(b) Days€™ sales in average receivables for 2012, and
(c) Accounts receivable turnover ratio. Evaluate each ratio value as strong or weak. Southside sells on terms of net30.