Southside Clothiers reported the following selected items at September 30, 2014 (last year€™s€”2013€”amounts also given as needed):

Compute Southside€™s
(a) Acid-test ratio,
(b) Accounts receivable turnover ratio,
(c) Days€™ sales in receivables for 2014.
Evaluate each ratio value as strong or weak. Southside sells on terms of net 30. (Round days€™ sales in receivables to a wholenumber.)

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Accounts Payable Cash Merchandise Inventory 320,000 Accounts Receivable, net 260,000 September 30, 2014 270,000 170,000 1,150,000 140,000 120,000 180,000 September 30, 2013 Cost of Goods Sold Short-term Investments Other Current Assets Other Curent Liabilities September 30, 2014 September 30, 2013 Net Credit Sales Revenue Long-term Assets Long-term Liablities 290,000 200,000 2,920,000 420,000 130,000