Reference no: EM131124151
the follow selected information is taken from the financial statement of Arnn Company for its most recent year of operations:Beginning balances inventory $200,000Accounts receivable $300,000ending balances inventory $250,000accounts receivable$400,000Cash $100,000Marketable securities short term 200,000Prepaid expenses 50,000Accounts payable 175,000Taxes payable 85,000wages payable 90,000short term-loans payable 50,000during the year Arnn had net sales of $2.45 million. the cost of goods sold was $1.3 million.Required:round all answer to two decimal places.
1-compute the current ratio
2-compute the quick or acid-test ratio
3-compute the accounts receivable turnover ratio
4-compute the accounts receivable turnover in days
5-compute the inventory turnover ratio
6-compute the inventory turnover in days.
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