Statement e1: Cold Goose's net collection of inventory items increased by more than the firm's sales between Years 1 and 2. This statenent is , because: The accruals balance decreased by $117 million between Years 1 and 2 Total irventories of raw materials, work-in-process, and final goods increased froen $1,980 million to $2,475 million between Year 1 and Vear 2 Total inventories of raw materials, work-in-process, and final goods decreased by 3495 million between Year 1 and Year 2 Statement #2: in Year 2 , Cold Goose Metal Works Inc; was profitable. This statement is because: Cold Goose's total assets increased between Years 1 and 2 Cold Goose's retained earnings account increased between the end of Years 1 and 2 . The cash and equivalents accourt incroased between Years t and 2 The balance sheet provides a snapshot of the finandal condition of a company. Investors and analysts use the information given on the bulance shert and other finandal statoments to make several interpretations regarding the compamy's finandal condition and performance. Cold Goose Metal Works Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet. Cold coose's retained eanings account increased between the end of Years 1 and 2 The cask and equivalents account increased between Years 1 and 2 Statement 8 ; One way to interpret the change in Cold Goose's accounts receivable balance from Year 1 to Year 2 is that more customets purchased new items on credit rather than paying off existing credit accounts. This statoment is because: The $169 increase in accounts receivable means either that Year 1 's existing credit customers are not paring off their owed balances and new or existing customers are making additional purchases on credit, or that Year 1's credit customers have repaid their owed balances and Year 2 credit sales have exceeded Year 1 's credit sales The change from $1,960 million to $2,475 milition reflects a net accumblation of new credit sales The decrease from $844 million to 1675 milign implies a net decrease in accounts feceivable and that more customers are paying off their teceivables balances than are buring on credit Based an ycur sinderstanding of the different items reported in the balance sheet and the information they provide, which statement regarding. Cotd Coose Metal Works Inc, Y balance theet is consistent with U.S. Generally Accepted Accounting Principles (CAAP)? The compacric assets sheuld be listed in alphabetical order. Dhe compaey sasess thould be listed from these carring the larpest balance to those nith the smalleat balance. The companva aivets ahould be listed in tie order in which thy y are to bu converted inte pash