The company Quicksilver has the following abbreviated Income Statement and Balance Sheet: Net sales 1.000.000 COGS 500.000
Question:
The company Quicksilver has the following abbreviated Income Statement and Balance Sheet:
Net sales 1.000.000
COGS 500.000
Operating Expenses 20.000
Income tax 72.000
Net Income 408.000
BALANCE SHEET
Begining : Ending
ASSETS
Inventories 52.989 : 47.690
Accounts Receivable 31.649 : 28.484
Net Fixed Assets 100.000 : 90.000
Total Assets 184.638 : 166.174
Liabilities & Shareholder´s Equity
- Accounts Payable 31.313 : 28.182
Equity 153.325 : 137.993
Total Liabilities
& Shareholder´s Equity 184.638 : 166.174
Calculate operating and Cash Cycles.
Is the company improving it´s short term financial position from the perspective of the shareholder´s?
Explain in detail.
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina