2 of 3 Excitingpart's Closet Statement of Financial Position As of Nov. 30, 2015 Dec. 31, 2014 270,000 500,000 400,000 850,000 2020000 Cash 60,000 740,000 Accounts Receivable Inventory Machinery 600,000 800,000 2200000 Total Assets Accounts Payable Salaries Payable 400,000 150,000 400,000 200,000 1,600,000 1800000 2200000 500,000 150,000 500,000 200,000 1,320,000 Total Liabilities Capital Stock Accumulated Profit Total Equity 1520000 2020000 Total Liabilities and Equity Excitingpart's Closet Income Statement For the years ended Nov. 30, 2015 Dec. 31, 2014 800,000 300,000 100,000 400000 120,000 280000 Sales 600,000 225,000 105,000 270000 Cost of Goods Sold Operating Expenses Operating Income Machinery Net Income 81,000 189000 Questions: 1. What's wrone with Excitinena (uournd 4. What was the payable turnover for Excitingpart's Closet? How did it affect the problem? (Including computation) 5. What factors lead to the low cash balance for Excitingpart's Closet? 6. Is Excitingpart's Closet profitable? (Including computation) 7. Is the company heavily financed by debt or equity? (Including computation) 8. Compute the horizontal and vertical analysis. 9. What will be your recommendations/changes that must be done to the operations of Excitingpart's Closet? 10. Summarize your analysis.

A9 please help.....

CP 14-8Assume the following income statement and balance sheet information:Service revenue (all cash) Operating expenses Salaries (all cash) Net income$17585$90Current assets 2020 2019 Cash $1,250 $1,600 Short-term invest. 100 200 $1,350 $1,800 Liabilities Borrowings 600 1,000 Stockholders' equity Common stock 200 300 Retained earnings 550 500 750 800 $1,350 $1,800Other information: The short-term investments are riskless and will be converted to a known amount of cash in 60 days. Borrowings are non-current. No gain or loss occurred when common stock was repurchased.Required: 1. Calculate cash flow from operating activities. 2. Prepare the 2020 statement of changes in equity. 3. Calculate cash flow from financing activities. 4. (Appendix) Prepare a cash flow table. Show that cash effects net to a $450 outflow.

ACC610