The comparative financial statements of Gold Pools, Inc., for 2017, 2016, and 2015 included the following select

Question:

The comparative financial statements of Gold Pools, Inc., for 2017, 2016, and 2015 included the following select data:
The comparative financial statements of Gold Pools, Inc., for 2017,

Requirements
1. Compute these ratios for 2017 and 2016:
a. Current ratio
b. Quick (acid-test) ratio
c. Days' sales outstanding
2. Which ratios improved from 2016 to 2017 and which ratios deteriorated? Is this trend favorable or unfavorable?
3. Recommend two ways for Gold Pools to improve cash flow from receivables.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0134127620

11th edition

Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz

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