Horngren's Financial & Managerial Accounting
Horngren's Financial & Managerial Accounting
7th Edition
ISBN: 9780136503743
Author: MILLER-NOBLES
Publisher: RENT PEARS
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Chapter 15, Problem 2QC

Horizontal analysis of Liberty's balance sheet for 2017 would report

a. Cash as 9.50% of total assets.

b. a 17% increase in Cash and Cash Equivalents.

c. a current ratio of 1.01.

d. inventory turnover of 6 times.

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