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  3. s the financial statements of national news inc. i

S The financial statements of National News inc. include the following items: Balance Sheet: Cash...

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Accounting

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S The financial statements of National News inc. include the following items: Balance Sheet: Cash Short-term investments Short-term investments Net receivables 64,000 73,000 Inventory 77,000 71,000 Prepaid expenses 16,000 8.000 \begin{tabular}{l|l|l} \hline & & \\ \hline Total current assets & $185,000 & $200,000 \\ \hline & & \\ \hline Total current liabilities & & \\ \hline Income Statement: & & \\ \hline Net credit sales & $611,000 & \\ \hline4,000 & \\ \hline Cost of goods sold & & \\ \hline \end{tabular} Compute the following ratios for the current year: Current ratio Ouick (acid-test) ratio inventory turnover Acocunts recelvabie turnover Days' sales in receivable

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