(Solved by Humans)-Problem 16-43 Liquidity Analysis The following selected information is taken from the financial...

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Problem 16-43 Liquidity Analysis The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: Beginning balances: Inventory                                                                                   $200,000 Accounts receivable                                                                     300,000 Ending balances: Inventory                                                                                   $250,000 Accounts receivable                                                                     400,000       Cash $100,000 Marketable securities (short-term) 200,000 Prepaid expenses 50,000 Accounts payable 175,000 Taxes payable 85,000 Wages payable 90,000 Short-term loans payable 50,000 During the year, Arnn had net sales of $2.45 million. The cost of goods sold was $1.3 million.   Required: Note: Round all answers to two decimal places. 1.       Compute the current ratio. 2.       Compute the quick or acid-test ratio. 3.       Compute the accounts receivable turnover ratio. 4.       Compute the accounts receivable turnover in days. 5.       Compute the inventory turnover ratio. 6.       Compute the inventory turnover in days.