Compute the following ratios for the current year a. b. C. d. e. f. a. b. C. d. e. f. Current ratio Cash ratio Acid-test ratio Inventory turnover Days' sales in inventory Days' sales in receivables Gross profit percentage Ratio Current ratio Cash ratio Acid-test ratio Inventory turnover Days' sales in inventory Days' sales in receivables Gross profit percentage COSE OF Calculation Solution Formula total current assets total current liabilities (cash + cash equivalents) total current liabilities (cash+ short-term investments net current receivables) total current liabilities cost of goods sold average merchandise inventory 365 days inventory turnover net credit sales average net accounts receivables 365 days/accounts receivable turnover ratio gross profit net sales revenue Financial statements Balance Sheet: Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Income Statement: Net Credit Sales Cost of Goods Sold Print Current Year 25,000 $ 15,000 52,000 64,000 18,000 174,000 135,000 472,000 317,000 Preceding Year Done - 30,000 29,000 92,000 76,000 9,000 236,000 93,000 X