1. Calculate the 2008 and 2007 liquidity ratios identified in the table below. Also calculate the change and the percentage change for the ratios and complete this table. (Formulas are given to shorten the time spent on the assignment.)
2. Analyze Chipmunk Company's ratios for both years and compare the figures with the given industry ratios. Based on the ratios identified, where do you think fraud may have occurred?
You are a fraud investigator who has been hired to detect financial statement fraud for Chipmunk Company. You have been provided with the following financial statements and are now beginning your analysis of those financial statements.
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