Lapp Company reported the following selected items at March 31, 2024 (last year's-2023-amounts also given as...

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Lapp Company reported the following selected items at March 31, 2024 (last year's-2023-amounts also given as needed): (Click the icon to view the selected items.) 14. Compute Lovett's (a) acid-test ratio, (b) accounts receivable turnover ratio, and (c) days' sales in receivables as of March 31, 2024. (a) Determine the formula, then compute the acid-test ratio. (Abbreviations used: Cash = Cash including cash equivalents; ST invest. = short-term investments. Enter the acid-te ratio to two decimals, X.XX.) Total current liabilities = Acid-test ratio Data table Accounts Payable Cash $ 133,000 Accounts Receivable, net: 152,000 March 31, 2024 $ 127,000 Merchandise Inventory: March 31, 2024 March 31, 2023 March 31, 2023 49,000 116,000 Cost of Goods Sold 520,000 88,000 Short-term Investments 42,630 Net Credit Sales Revenue Long-term Assets Long-term Liabilities 1,100,000 Other Current Assets 172,000 Other Current Liabilities 56,000 49,000 80,000 - Clear all Check ans Lapp Company reported the following selected items at March 31, 2024 (last year's-2023-amounts also given as needed): (Click the icon to view the selected items.) 14. Compute Lovett's (a) acid-test ratio, (b) accounts receivable turnover ratio, and (c) days' sales in receivables as of March 31, 2024. (a) Determine the formula, then compute the acid-test ratio. (Abbreviations used: Cash = Cash including cash equivalents; ST invest. = short-term investments. Enter the acid-te ratio to two decimals, X.XX.) Total current liabilities = Acid-test ratio Data table Accounts Payable Cash $ 133,000 Accounts Receivable, net: 152,000 March 31, 2024 $ 127,000 Merchandise Inventory: March 31, 2024 March 31, 2023 March 31, 2023 49,000 116,000 Cost of Goods Sold 520,000 88,000 Short-term Investments 42,630 Net Credit Sales Revenue Long-term Assets Long-term Liabilities 1,100,000 Other Current Assets 172,000 Other Current Liabilities 56,000 49,000 80,000 - Clear all Check ans