The comparative financial statements of Highland Pools, Inc., for 2011, 2010, and 2009 included the following select

Question:

The comparative financial statements of Highland Pools, Inc., for 2011, 2010, and 2009 included the following select data:

The comparative financial statements of Highland Pools, Inc., fo

Requirements
1. Compute these ratios for 2011 and 2010:
a. Current ratio
b. Acid-test ratio
c. Days sales in receivables
2. Which ratios improved from 2010 to 2011 and which ratios deteriorated? Is this trend favorable orunfavorable?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Financial accounting

ISBN: 978-0136108863

8th Edition

Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas

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