Ly Final Test ~ Lyryx Learning Inc - Google Chrome - X lifa1.lyryx.com/quiz-servlets/QuizServlet?ccid=11218 Question b 15 points] The following financial statements are for X-cell Inc. X-cell Inc. X-cell Inc. Income Statement Balance Sheet For Years Ended December 31, 2014, 2013, and 2012 December 31, 2014, 2013, and 2012 2014 2013 2012 Assets 2014 2013 2012 Sales. 564,500 570,500 642, 100 Cash 83,700 104,200 98,600 Cost of goods sold. 368,400 347,900 340,600 Short-term investments. 40,000 39,000 38,000 Gross profit from sales. 196, 100 222,600 301,500 Accounts receivable, net. 42,300 36, 100 30,200 Operating expenses 70,800 61,000 71,000 Merchandise inventory. 72,500 67,300 60,000 Operating income 125,300 161,600 230,500 Prepaid expenses. 10, 100 8,900 7,900 Interest expense. 7,550 6,850 6,250 Notes receivable, due in 2018 15,500 14,500 14,500 Income before taxes. 117,750 154,750 224,250 Property, plant and equipment, net 247,000 250,000 221,000 Income taxes 98,500 87,800 75,000 Total assets.. 511, 100 520,000 470,200 Net income. 19,250 66,950 149,250 Liabilities and Equity Accounts payable 13,900 14,200 17,600 Salaries payable. 11,800 10,300 11,500 Income taxes payable.. 12,900 13,900 17,000 Long-term note payable secured by mortgage on plant assets 42,000 47,000 58,000 Share capital. 80,000 90,000 110,000 Retained earnings 350,500 344,600 256, 100 Total liabilities and equity.. 511, 100 520,000 470,200 Compute the acid-test ratio below, and indicate whether the change from year to year is favourable or unfavourable. For your analysis, assume that all other things have remained constant. Apply your analysis in very general terms. All values should be accurate to at least two decimal places Ratio 2014 2013 Measure of Analysis Acid-test ratio.. (select one) (select one) Question 7 [5 points] 07:10 Type here to search O 2.C Mostly cloudy ~ ( @ D ( () ENG 13-12-2021