Question

The comparative financial statements of Perfection Taco Restaurants for 2013, 2012, and 2011 include the following selected data:
Requirements
1. Compute these ratios for 2013 and 2012:
a. Quick ratio.
b. Accounts receivable turnover. Assume all sales are credit sales.
2. Write a memo explaining to the company owner which ratios improved from 2012 to 2013, which ratios deteriorated, and which items in the financial statements changed and caused changes in some ratios. Discuss whether this change conveys a favorable or an unfavorable impression about the company.


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  • CreatedJuly 08, 2015
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