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.
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.
Step by Step Answer:
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