Selected Financial Statement Data for Mure Company Are Presented Below

question 131

Essay

Selected financial statement data for Mure Company are presented below. $\begin{array}{lcc}&\text { December 31, } 2017& \text { December 31, } 2016\\\text { Cash } & \$ 40,000 & \$ 30,000 \\\text { Short-term investments } & 20,000 & 18,000 \\\text { Receivables (net) } & 100,000 & 90,000 \\\text { nventories } & 80,000 & 60,000 \\\text { Total current liabilities } & 100,000 & 90,000\end{array}$ During 2017 net sales were $950000 and cost of goods sold was $770000.
Instructions
Compute the following ratios at December 31 2017:
(a) Current.
(b) Acid-test.
(c) Accounts receivable turnover.
(d) Inventory turnover.

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