Homework: Week Five: Chapter 8: Problems Score: 0 of 1 pt 5 of 7 (0 complete) P9-33A (similar to) The comparative financial statements of True Beauty Cosmetic Supply for 2016. 2015. and 2014 include the data shown here: Click the icon to view the comparative financial data.) Requirements 1. Compute these ratios for 2016 and 2015: Acid-test ratio (Round to two decimals.) b. Accounts receivable turnover (Round to two decimals.) Days' sales in receivables (Round to the nearest whole day.) 2. Considering each ratio individually, which ratios improved from 2015 to 2016 and which ratios deteriorated? Is the trend favorable or unfavorable for the company? a. Requirement 1a. Compute the acid-test ratio for 2016 and 2015. (Abbreviations used: Cash Cash including cash equivalents: ST invest. = short-term investments. Round the acid test ratios to two decimals, X.XX.) Acid-test ratio 2016 2015 -X Data Table 2016 2015 2014 $ 80.000 $ 70,000 $ 50.000 Balance sheet-partial Current Assets: Cash Short-term Investments Accounts Receivable, Net Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Income statement-partial Net Sales (all on account) 130.000 290.000 370.000 78,000 155.000 260.000 350.000 20.000 110,000 240.000 310.000 35.000 948.000 855,000 745,000 530,000 630.000 690.000 5.830.000 5.140.000 4,220,000 Print Done