Additional information(in thousands)Allowance for doubtful accountsCredit salesCost of goods soldShow Transcribed TextWorking capitalCurrent ratioReceivables TeroverCollection periodInventory turnoverDas sales in inventory2021$50 $ 454,2153.9342,8762,6582021GCalculate all possible quidity ratios for 2021 and 2020. (Round carent ratio to 2 decimal places a 2.66. Round recoverand inventory turnover to 1 decimal place ng 6.2. Round collection period and days sales in eventory to O decimal places e 1.366. Enterworking capital amounts in thousands 525)e1days2020tiesdays20192020Da6722.3301tiesdaysEM Current assetsCashRUNNER INC.Statement of Financial Position (partial)December 31(in thousands)2021Trading investmentsAccounts receivable, netInventoryPrepaid expensesTotal current assetsTotal current liabilities$ 305667562741$ 1,429$ 867$202092 $6058952252$ 1,315$ 8192019604049257529$ 1,196$ 755

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Description: Additional information(in thousands)Allowance for doubtful accountsCredit salesCost of goods soldShow Transcribed TextWorking capitalCurrent ratioReceivables TeroverCollection periodInventory turnoverDas sales in inventory2021$50 $ 454,2153.9342,876

Liquidity ratios assess a company's capacity to pay down its short-term commitments. Liquidity…

Business

Accounting

Current assets Cash RUNNER INC. Statement of Financial Position (partial) December 31 (in thousands) 2021 Trading investments Accounts receivable, net Inventory Prepaid expenses Total current assets Total current liabilities $ 30 $ 92 $ 56 60 675 627 2020 41 589 522 52 $ 1,429 $ 1,315 $ 867 $ 819 2019 60 40 492 575 29 $ 1,196 $ 755

Current assets Cash RUNNER INC. Statement of Financial Position (partial) December 31 (in thousands) 2021 Trading investments Accounts receivable, net Inventory Prepaid expenses Total current assets Total current liabilities $ 30 $ 92 $ 56 60 675 627 2020 41 589 522 52 $ 1,429 $ 1,315 $ 867 $ 819 2019 60 40 492 575 29 $ 1,196 $ 755

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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