Question: 3) Selected financial statement data for Mure Company are presented below. Cash Short-term investments Receivables (net) Inventories Total current liabilities During 2017, net sales were

3) Selected financial statement data for Mure Company are presented below.

3) Selected financial statement data for Mure Company are presented below. Cash Short-term investments Receivables (net) Inventories Total current liabilities During 2017, net sales were $950,000, and cost of goods sold was $700,000. Instructions: Compute the following ratios at December 31, 2017: (a) Accounts receivable turnover. December 31, 2017 S 40,000 20,000 110,000 80,000 100,000 December 31, 2016 $30,000 18,000 90,000 60,000 90,000 (b) Inventory turnover

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