Please do not give solution in image format thanku The comparative statement of financial position of Concord Corporation as at December 31, 2023, follows:AssetsCashAccounts receivableEquipmentLess: Accumulated depreciationTotalCONCORD CORPORATIONStatement of Financial PositionDecember 31Liabilities and Shareholders' EquityAccounts payableCommon sharesRetained earningsTotal2023December 31$53,00090,00026,300(9,300)$160,000$20,000100,00040,000$160,0002022$1,40088,70021,600(11,300)$100,400$10,00074,20016,200$100,400 Net income of $37,200 was reported and dividends of $13,400 were declared and paid in 2023. New equipment was purchased, andequipment with a carrying value of $4,300 (cost of $11,600 and accumulated depreciation of $7,300) was sold for $7,900.(a)Calculate the current ratio and debt to total assets ratio as at December 31, 2022 and 2023. Calculate the free cash flow forDecember 31, 2023. (Round answers to 2 decimal places, e.g. 52.75. Show amounts that decrease cash flow with either a - sign e.g. -15,000 orin parenthesis e.g. (15,000).)Current ratioDebt to total assets ratioFree cash flow, December 31, 2023 $2023:1%2022:1%

Accounting ratios shows the relationship between the financial data. Current ratio shows the…

The comparative statement of financial position of Concord Corporation as at December 31, 2023, follows: Assets Cash Accounts receivable Equipment Less: Accumulated depreciation Total CONCORD CORPORATION Statement of Financial Position December 31 Liabilities and Shareholders' Equity Accounts payable Common shares Retained earnings Total 2023 December 31 $53,000 90,000 26,300 (9,300) $160,000 $20,000 100,000 40,000 $160,000 2022 $1,400 88,700 21,600 (11,300) $100,400 $10,000 74,200 16,200 $100,400

The comparative statement of financial position of Concord Corporation as at December 31, 2023, follows: Assets Cash Accounts receivable Equipment Less: Accumulated depreciation Total CONCORD CORPORATION Statement of Financial Position December 31 Liabilities and Shareholders' Equity Accounts payable Common shares Retained earnings Total 2023 December 31 $53,000 90,000 26,300 (9,300) $160,000 $20,000 100,000 40,000 $160,000 2022 $1,400 88,700 21,600 (11,300) $100,400 $10,000 74,200 16,200 $100,400

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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