The following financial statement information is available for XYZ Corporation:InventoryCurrent assetsP 44,00080,000432,000Current liabilities 25,000Total liabilities102,000Total assetsThe current ratio for 2022O 4.24:1O 4.07:12022O 2.94:1O 3.2:12021P 43,000106,000358,00036,00088,000

Name: The following financial statement information is available for XYZ Co
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Description: The following financial statement information is available for XYZ Corporation:InventoryCurrent assetsP 44,00080,000432,000Current liabilities 25,000Total liabilities102,000Total assetsThe current ratio for 2022O 4.24:1O 4.07:12022O 2.94:1O 3.2:1202

Solution: Given, For 2022 Current Assets = 80,000 Current Liabilities = 25,000 Current ratio =…

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The following financial statement information is available for XYZ Corporation: Inventory Current assets P 44,000 80,000 Total assets 432,000 Current liabilities 25,000 Total liabilities O 4.24:1 The current ratio for 2022 O 4.07:1 2022 O 2.94:1 O 3.2:1 102,000 2021 P 43,000 106,000 358,000 36,000 88,000

The following financial statement information is available for XYZ Corporation: Inventory Current assets P 44,000 80,000 Total assets 432,000 Current liabilities 25,000 Total liabilities O 4.24:1 The current ratio for 2022 O 4.07:1 2022 O 2.94:1 O 3.2:1 102,000 2021 P 43,000 106,000 358,000 36,000 88,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

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