The government-wide financial data for the City of ABC for the year ended 31-12- 2017 are...

 

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The government-wide financial data for the City of ABC for the year ended 31-12- 2017 are as follows (Numbers in millions): Operating revenues Grants Operating expenditures General Fund balances Cash Short-term investments Salaries Payable Unearned Revenue Debt (Due in 5 years) Account Payable Personal income Interest expense Tax Payable Population $20,000 $2,000 $16,000 $3,000 $400 $200 $150 $50 $15,000 $150 $60,000 $2,400 $50 40 Required: Calculate the financial performance ratios of ABC city for the year 2017; mention the effect of each ratio on the financial performance; and comment on each ratio. The government-wide financial data for the City of ABC for the year ended 31-12- 2017 are as follows (Numbers in millions): Operating revenues Grants Operating expenditures General Fund balances Cash Short-term investments Salaries Payable Unearned Revenue Debt (Due in 5 years) Account Payable Personal income Interest expense Tax Payable Population $20,000 $2,000 $16,000 $3,000 $400 $200 $150 $50 $15,000 $150 $60,000 $2,400 $50 40 Required: Calculate the financial performance ratios of ABC city for the year 2017; mention the effect of each ratio on the financial performance; and comment on each ratio.

Answer rating: 100% (QA)

To calculate the financial performance ratios of the City of ABC for the year 2017 we need to use the information provided in the governmentwide finan... View the full answer