The following financial data were taken from the annual financial statements of Smith…

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The following financial data were taken from the annual financial statements of Smith Corporation:Requireda. Based on these data, calculate the following for 2008 and 2009:1. Working capital2. Current ratio3. Acid-test ratio4. Accounts receivable turnover5. Merchandise inventory turnover6. Inventory turnover in daysb. Evaluate the results of your computations in regard to the short-term liquidity of thefirm.
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The following financial data were taken from the annual financia