f8

\begin{tabular}{|c|c|c|c|c|} \hline & & 2024 & 2023 & 2022 \\ \hline \multicolumn{5}{|l|}{ Balance sheet-partial } \\ \hline \multicolumn{5}{|l|}{ Current Assets: } \\ \hline Cash & $ & 75,000$ & 55,000$ & 65,000 \\ \hline Short-term Investments & & 150,000 & 165,000 & 155,000 \\ \hline Accounts Receivable, Net & & 300,000 & 230,000 & 245,000 \\ \hline Merchandise Inventory & & 335,000 & 340,000 & 285,000 \\ \hline Prepaid Expenses & & 55,000 & 10,000 & 50,000 \\ \hline Total Current Assets & & 915,000 & 800,000 & 800,000 \\ \hline Total Current Liabilities & & 535,000 & 640,000 & 660,000 \\ \hline \multicolumn{5}{|l|}{ Income statement-partial } \\ \hline Net Sales (all on account) & & 5,910,000 & 5,160,000 & 4,270,000 \\ \hline \end{tabular} The comparative financial statements of Lomax Cosmetic Supply for 2024,2023 , and 2022 include the data shown here: (Click the icon to view the comparative financial data.) Read the requirements. Requirement 1a. Compute the acid-test ratio for 2024 and 2023. (Round to two decimals.) (Abbreviations used: Cash = Cash including cash equivalents; ST invest. = short-term investments. Round the acid test ratios to two decimals, X.XX.) Requirement 1b. Compute the accounts receivable turnover for 2024 and 2023. (Round to two decimals.) (Abbreviations used: AR turn = accounts receivable turnover ratio; Cash = Cash including cash equivalents; ST invest. = short-term investments. Round the accounts receivable turnover ratios to two decimals, X.XX.) 2024 2023 Requirement 1c. Compute the days' sales in receivables for 2024 and 2023. (Round to the nearest whole day.) (Abbreviations used: Cash = Cash including cash equivalents; ST invest. = short-term investments. Round interim calculations to two decimals, X.XX, and the days in receivables to the nearest whole day.) 2024 2023 Requirement 2. Considering each ratio individually, which ratios improved from 2023 to 2024 and which ratios deteriorated? Is the trend favorable or unfavorable for the company? The acid-test ratio The accounts receivable turnover The days' sales in receivables from 2023 to 2024. This trend from 2023 to 2024. This trend the company. the company. from 2023 to 2024. This trend is unfavorable for the company