1. Determine whether the company is currently in compliance with its loancovenant.

2. Assuming the level of assets and liabilities remains unchanged until the last dayof the fiscal year, evaluate whether Fashions First should pay down $210,000 ofits Accounts Payable on the last day of the year, before the Accounts Payablebecome due.

Answer rating: 100% (QA)

1 The debt to total assets ratio is a ratio that indicators the ... View the full answer