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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
These are selected numbers from the financial statements of ZZZZ Best for fiscal years 1985 and 1986.
What calculations or analyses would you make with these numbers that might help you assess whether the financial relationships are “reasonable”?
1985 | 1986 | |||||
Sales | $ | 1,240,524 | $ | 4,845,347 | ||
Cost of goods sold | 576,694 | 2,050,779 | ||||
0 | 693,773 | |||||
Cash | 30,321 | 87,014 | ||||
Current liabilities | 2,930 | 1,768,435 | ||||
Notes payable—current | 0 | 780,507 | ||||
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