Question: PLEASE ANSWER ACCORDING TO THE BLANKS ABOVE please answer according to questions in red Cnmnarative finanrial statements fnr Rincenm and vavail td are shnWn below.

PLEASE ANSWER ACCORDING TO THE BLANKS ABOVE please answer according to questionsin red Cnmnarative finanrial statements fnr Rincenm and vavail td are shnWnbelow. 1. Seventy-five percent of the sales were on account. 2. The

PLEASE ANSWER ACCORDING TO THE BLANKS ABOVE

please answer according to questions in red

Cnmnarative finanrial statements fnr Rincenm and vavail td are shnWn below. 1. Seventy-five percent of the sales were on account. 2. The allowance for doubtful accounts was $4,000 in 2024,$5,000 in 2023 , and $3,000 in 2022 . 3. In 2024 and 2023 , dividends of $2,000 and $8,000, respectively, were paid to the common shareholders. 4. Cash provided by operating activities was $103,500 in 2024 and $120,000 in 2023 . 5. Cash used by investing activities was $104,000 in 2024 and $30,000 in 2023 . Calculate all possible liquidity, solvency, and profitability ratios for 2024 and 2023 . (Round answers for collection period, days sales in inventory, operating cycle and free cash flow to 0 decimal places, e.g. 125. Round answer for earnings per share to 2 decimal places, e.g. 12.50. Round all other answers to 1 decimal place, e.g. 12.5 or 12.5%. Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Use 365 days for calculation.) Cnmnarative finanrial statements fnr Rincenm and vavail td are shnWn below. 1. Seventy-five percent of the sales were on account. 2. The allowance for doubtful accounts was $4,000 in 2024,$5,000 in 2023 , and $3,000 in 2022 . 3. In 2024 and 2023 , dividends of $2,000 and $8,000, respectively, were paid to the common shareholders. 4. Cash provided by operating activities was $103,500 in 2024 and $120,000 in 2023 . 5. Cash used by investing activities was $104,000 in 2024 and $30,000 in 2023 . Calculate all possible liquidity, solvency, and profitability ratios for 2024 and 2023 . (Round answers for collection period, days sales in inventory, operating cycle and free cash flow to 0 decimal places, e.g. 125. Round answer for earnings per share to 2 decimal places, e.g. 12.50. Round all other answers to 1 decimal place, e.g. 12.5 or 12.5%. Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Use 365 days for calculation.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!