Answer Happy

The comparative financial statements of Paradise Cosmetic Supplies Ltd. for 2018 and 2017 include the following select data: 1 (Click the icon to view the comparative financial data.) Requirement 1: Compute these ratios for 2018 and 2017: a Current ratio b. Acid-test ratio c. Settlement period for trade receivables Requirement 2: Which ratios improved from 2017 to 2018 and which ratios deteriorated? How does this trend affect the company? C Requirement 1: a. Calculate the current ratio. (Round your final answer to 2 decimal places. If an answer is less than 1, place a '0' in front of the decimal point.) 2018 2017 :1 Current ratio = . Calculate the acid-test ratio. (Round your final answer to 2 decimal places. If an answer is less than 1, place a '0' in front of the decimal point.) 2018 2017 1 Acid-test ratio c. Next alculate ment period trade receivables. (Round all calculations to the nearest complete day. Use year end figures for consistency) 2018 2017 days Settlement period for trade receivables = days ● Requirement 2: The three ratios from 2017 to 2018. This trend ▼the company.