Based on the following data for the current year, what is the inventory turnover? Sales on account during year Cost of goods sold during year Accounts receivable, beginning of year Accounts receivable, end of year Inventory, beginning of year Inventory, end of year a. 2.7 b. 9.7 c. 2.5 d. 3.0 One reason that a common-sized statement is a useful tool in financial analysis is that it enables the user to a. judge the relative potential of two companies of similar size in different industries b. determine which companies in a single industry are of the same value c. determine which companies in a single industry are of the same size d. make a better comparison of two companies of different sizes in the same industry Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipment Prepaid expenses $700,000 270,000 45,000 35,000 90,000 110,000 $30,000 35,000 7,000 25,000 40,000 72,000 100,000 75,000 36,000 20,000 400,000 2,000 Based on the above data, what is the quick ratio, rounded to one decimal point? a. 1.7 b. 2.9 c. 1.1 d. 1.0