At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets net Current Year 1 Year Ago 2 Years Ago $ 28,952 85,608 105,504 9,512 266.097 $ 33,842 61,019 78,261 9,153 245 029 $ 35,979 49,426 52,128 4,038 225 529
At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets net Current Year 1 Year Ago 2 Years Ago $ 28,952 85,608 105,504 9,512 266.097 $ 33,842 61,019 78,261 9,153 245 029 $ 35,979 49,426 52,128 4,038 225 529
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Step 1: Introduce Of Current Ratio And Acid-Test Ratio
VIEWStep 2: Current Ratio -
VIEWStep 3: Working Notes - Calculation Of The Current Assets -
VIEWStep 4: Current Ratio Improve Or Worsen Over The Three-Years Period.
VIEWStep 5: Acid-Test Ratio -
VIEWStep 6: Quick Assets For Each Of The Three Years -
VIEWStep 7: Acid-Test Ratio Improve Or Worsen Over The Three-Year Period.
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