Question: The accounts below in alphabetical order are adapted from Danier

The accounts below, in alphabetical order, are adapted from Danier Leather Inc.’s recent statement of financial position (amounts in thousands of dollars):
Required
1. Prepare, in good form, a classified statement of financial position (with two years reported) for Danier Leather Inc. Assume a fiscal year-end of June 30.
2. Compute the company’s current ratio for the current year. How would you interpret this ratio of Danier Leather?


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  • CreatedAugust 04, 2015
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