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  3. 18 points - 3 each) selected financial statement d

18 points - 3 each) Selected financial statement data for Mure Company are presented below....

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Accounting

18 points - 3 each) Selected financial statement data for Mure Company are presented below.

December 31, 2015

December 31, 2014

Cash

$ 40,000

$30,000

Short-term investments

20,000

18,000

Receivables (net)

100,000

90,000

Inventories

80,000

60,000

Total current liabilities

100,000

90,000

During 2015, net sales were $950,000, and cost of goods sold was $770,000. Instructions Compute the following ratios at December 31, 2015: (a) Current ratio (b) Acid-test ratio. (c) Accounts receivable turnover. (d) Days sales in accounts receivable. (e) Inventory turnover. (f) Days sales in inventory.

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