Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN: 9781285190907
Author: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher: Cengage Learning
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Question
Chapter 6, Problem 24PC
a.
To determine
State the reason behind the difference between the modified amount for total assets of Year 8 and originally reported amount.
b.
To determine
State the reason behind the similarity between the restated net income amounts for Year 8 and originally reported amount, when nearly all of the individual revenues and expenses showed a decrease on restatement.
c.
To determine
State the reason behind the difference between the modified amount of cash flow from operations for Year 8 and originally reported amount.
d.
To determine
Identify the columns and amounts in Exhibit 6.23 to analyze the changes in the structure of assets and equities between year 8 and year 9.
e.
To determine
Identify the columns and amounts in Exhibit 6.24 to analyze the changes in the operating profitability between year 8 and year 9.
f.
To determine
Identify the columns and amounts in Exhibit 6.25 to assess the short-term liquidity and long-term solvency risk with the use of cash flow ratios.
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