Selected comparative financial statement data for Kigio Inc. are shown below. Instructions (a) Calculate all possible liquidity
Question:
Selected comparative financial statement data for Kigio Inc. are shown below.
Instructions
(a) Calculate all possible liquidity ratios for 2015 and 2014.
(b) Indicate whether each of the liquidity ratios calculated in part (a) is better or worse in 2015.
Transcribed Image Text:
KIGIO INC. Statement of Financial Position (partial) December 31 (in thousands) 2015 2014 2013 Current assets Cash Trading investments Accounts receivable, net Inventory Prepaid expenses $ 30 676 628 41 $1,430 $ 890 $ 91 60 586 525 52 $1,314 $ 825 $ 60 40 496 575 29 $1,200 750 Total current assets Total current liabilities Additional information: (in thousands) Allowance for doubtful accounts Net credit sales Cost of goods sold 2015 $ 50 4,190 2,900 2014 S 45 3,940 2,650 2013 $ 40 3,700 2,350
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in millions a 2015 2014 Working capital 1430 890 540 1314 825 489 Current rati...View the full answer
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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