Selected comparative financial statement data for Kigio Inc. are shown below. Additional information (in thousands)201820172016 Allowance for

Question:

Selected comparative financial statement data for Kigio Inc. are shown below.

Selected comparative financial statement data for Kigio Inc. are shown

Additional information
(in thousands)201820172016
Allowance for doubtful accounts...................$ 50..................$ 45................$ 40
Net credit sales.............................................4,190................3,940..............3,700
Cost of goods sold.......................................2,900................2,650..............2,350
Instructions
(a) Calculate all possible liquidity ratios for 2018 and 2017.
(b) Indicate whether each of the liquidity ratios calculated in part (a) is better or worse in 2018.

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Financial Accounting Tools for Business Decision Making

ISBN: 978-1119368458

7th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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