Required: Study the data and perform HORIZONTAL ANALYSIS to discern relationships that raise questions about possible financial statement misstatements. WRITE A MEMO identifying and explaining where misstatements in the current year financial statements might exist. Upload your memo and horizontal analysis as file attachments. In case you should encounter difficulties uploading the documents, I have set up a separate link as a backup in the Course Modules section of Blackboard called Midterm Exa

Answer rating: 100% (QA)

The current ratio has reduced from a high of 457 to a more reasonable 20 It is seen that this is due to a more than doubling of current liabilities ra... View the full answer