Question: Question 3 : ( 2 2 marks ) Selected information taken from the 2 0 1 4 and 2 0 1 3 annual report of

Question

3

(22

marks

)

Selected information taken from the

2014

and

2013

annual report of ABC Company follows. During

2014,

assume the company had no non

-

operating or nonrecurring items included in income and had no outstanding preferred stock. Also assume that total current assets include cash, marketable securities

,

accounts receivable and inventory.

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