Selected financial statement data for Morton Company are presented below.

December 31, 2011 December 31, 2010

Cash $ 40,000 $30,000

Short-term investments 25,000 18,000

Receivables (net) 100,000 80,000

Inventories 85,000 65,000

Total current liabilities 100,000 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