Question: This window shows your responses and what was marked correct and incorrect from your previous att! The financial statements for Royale and Cavalier companies are
This window shows your responses and what was marked correct and incorrect from your previous att!
The financial statements for Royale and Cavalier companies are summarized here:
These two companies are in the same business and state but different cities. Each company has been in operation for about years. Both companies received an unqualified audit opinion on the financlat statements. Royale Company wants to borrow $ cash and Cavalier Company is asking for $ The loans will be for a twoyear period, Both companies estimate bad debts based on an aging analysis, but Cavalier has estimated slightly higher uncollectible rates than Royale. Neither company issued stock in the current year. Assume the endofyear total assets and net equipment balances approximate the year's average and all sales are on account.
Required:
Cateuthtithe following ratios. Use days in a year. Round your intermediate calculations and final answers to decimal places.
tableRatloRoyale Company,Cavaller CompanyTeste of Proflability,
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