Question: I will rewrite the answer on a paper please don't use excel 3. The comparative financial statements of True Beauty Pools. Inc.. for 2013, 2012

I will rewrite the answer on a paper please don't use excel

3. The comparative financial statements of True Beauty Pools. Inc.. for 2013, 2012 and 2011 included the following select data: (In millions) 2012 2013 2011 $ 80 $ 60 135 155 $ 40 110 Balance sheet Current assets: Cash........... Short-term investments Receivables, net of allowance for doubtful accounts of $7, 56, and $4, respectively Inventories.... Prepaid expenses. Total current assets Total current liabilities. Income statement Net sales. 270 365 70 $ 920 $ 590 260 330 15 $ 820 $ 630 230 300 55 $ 735 $ 690 $5,850 $5,110 $4,210 Compute these ratios for 2013 and 2012: a. Current ratio b. Quick (acid-test) ratio c. Days sales in receivables d. Which ratios improved from 2012 to 2013 and which ratios deteriorated? Is this trend favorable or unfavorable? (Show your solution step by step)

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