Selected financial statement data for Morton Company are presented below. 2011 Cash 40,000 Short-term investments 25,000 Receivables (net) 100,000 Inventories 85,000 Total current liabilities 100,000 December 31, December 31, 2010 $ $30,000 18,000 80,000 65,000 90,000 During 2011, net sales were $900,000, and cost of goods sold was $705,000. Instructions Compute the following ratios at December 31, 2011: (a) Current. (b) Acid-test. (c) Receivables turnover. (d) Inventory turnover