Question: Selected comparative financial statement data for Sweetwater Inc. are shown below. SWEETWATER INC. Statement of Financial Position (partial) December 31 (in thousands) 2024 2023

Selected comparative financial statement data for Sweetwater Inc. are shown below. SWEETWATERINC. Statement of Financial Position (partial) December 31 (in thousands) 2024 20232022 Current assets Cash $30 $91 $60 Trading investments 55 60 40

Selected comparative financial statement data for Sweetwater Inc. are shown below. SWEETWATER INC. Statement of Financial Position (partial) December 31 (in thousands) 2024 2023 2022 Current assets Cash $30 $91 $60 Trading investments 55 60 40 Accounts receivable, net 682 587 498 Inventory 634 529 577 Prepaid expenses 41 52 29 Total current assets $1,442 $1.319 $1,204 Total current liabilities $884 $826 $743 Additional information: (in thousands) 2024 2023 2022 Allowance for expected credit losses $50 $45 $40 Credit sales, 4,192 3,971 3,708 Cost of goods sold 2,898 2,633 2,362 (a) Calculate all possible liquidity ratios for 2024 and 2023. (Round current ratio to 2 decimal places eg. 2.66. Round receivables turnover and inventory turnover to 1 decimal place eg. 6.2. Round collection period and days sales in inventory to O decimal places es. 1,266. Enter working capital amounts in thousands eg. 525) Working capital 2024. 2023 Working capital 2024 Current ratio Receivables turnover :1 2023 times times days Collection period days Inventory turnover times times Days sales in inventory days days

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!