Geodesic Domes, Inc., builds environmentally sensitive structures. The company's 2020 revenues totalled $2,600 million. At December 31, 2020 and 2019, the company had $646 million and $581 million in current assets, respectively. Accounts payable at the end of 2018 was $187 million. The December 31, 2020 and 2019, balance sheets and income statements reported the following amounts: Requirement 3. Evaluate whether the company's ability to pay its short-term debts improved, deteriorated, or remained about the same over the year. 2020 2019 Determine the formula for the accounts payable turnover. Then complete the formula and calculate the accounts payable turnover ratios at the end of 2019 and 2020. (En At Year-End (in millions) Liabilities and shareholders' equity Cost of goods sold Average accounts payable = Accounts payable turnover Current liabilities $ 114 $ 180 2020 2019 Accounts payable Accrued expenses Employee compensation and benefits 96 176 40 12 22 8 Next, determine the formula for the days payable outstanding (DPO). Then complete the formula and calculate the days payable outstanding at the end of 2019 and 2020 the nearest whole day.) 365 / Accounts payable turnover = Days payable outstanding 2020 258 390 Current portion of long-term debt Total current liabilities Long-term debt Post-retirement benefits payable Other liabilities 1,394 1,317 2019 108 156 12 29 Now, determine the formula for the current ratios. Then complete the formula and calculate the current ratios at the end of 2019 and 2020. (Round your answers to two Shareholders' equity. 1,953 1,494 Total current assets / Total current liabilities Current ratio $ 3,725 $ 3,386 2020 1 2019 Total liabilities and shareholders' equity Year-end (in millions) Cost of goods sold $ 1,650 $ 1,796 Evaluate whether the company improved or deteriorated from the standpoint of ability to cover accounts payable and current liabilities The company's ability to pay its short-term debts over the year