Question 4 21 pts (21 points - 3 each) Booker Corporation had the following comparative current assets and current liabilities: Dec. 31. 2015 Dec 31, 2014 Current assets Cash $60,000 $30,000 Short-term investments 40,000 10,000 Accounts receivable 55,000 95,000 Inventory 110,000 90,000 Prepaid expenses 35,000 20,000 Total current assets $300,000 $245,000 Current liabilities Accounts payable $140,000 $110,000 Salaries payable 40,000 30,000 Income tax payable 20.000 15.000 Total current liabilities $200,000 $155,000 During 2015, credit sales and cost of goods sold were $750,000 and $400,000, respectively. Instructions Compute the following liquidity measures for 2015: 1. Current ratio 2. Working capital 3. Acid-test ratio 4. Accounts receivable turnover 5. Days sales in accounts receivable 6. Inventory turnover 7. Days sales in inventory HTML Editora B IV AA- IE I 3 1 1 * , ! E - OC ? O 1 12pt - Paragraph