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In: AccountingExercise 193 Booker Corporation had the following comparativecurrent assets and current liabilities: Dec. 31, 2017...Exercise 193 Booker Corporation had the following comparativecurrent assets and current liabilities: Dec. 31, 2017 Dec. 31, 2016Current assets Cash $60,000 $30,000 Short-term investments 40,00010,000 Accounts receivable 55,000 95,000 Inventory 110,000 90,000Prepaid expenses 35,000 20,000 Total current assets $300,000$245,000 Current liabilities Accounts payable $140,000 $110,000Salaries payable 40,000 30,000 Income tax payable 20,000 15,000Total current liabilities $200,000 $155,000 During 2017, creditsales and cost of goods sold were $750,000 and $400,000,respectively. Compute the following liquidity measures for 2017:(Round current and acid-test ratios to 2 decimal places, e.g.52.71.) 1. Current ratio :1 2. Working capital $ 3. Acid-test ratio:1 4. Accounts receivable turnover times 5. Inventory turnovertimes