The financial statements of Baca Bay Ltd. include the following items:

Required
Compute the following ratios for 2017:
(a) Current ratio,
(b) Acid-test ratio,
(c) Inventory turnover,
(d) Accounts receivable turnover, and
(e) Days' sales in receivables.

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2017 2016 Balance sheet Cash Short-term investments Net receivables Inventory Prepaid expenses Total current assets Total current liabilities $11,500 6,500 39,000 45,500 3,500 $106,000 $69,000 $14,500 10,500 35,000 38,500 3,500 $102,000 $ 46,000 Income statement Net credit sales $248,500 138,500 Cost of goods sold