The comparative financial statements of New World Piano Company for 2017, 2016, and 2015 included the following
Question:
The comparative financial statements of New World Piano Company for 2017, 2016, and 2015 included the following selected data:
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Requirements
1. As a financial advisor to an investor in New World Piano Company, compute these ratios for 2017 and 2016:
a. Current ratio
b. Acid-test ratio
c. Days' sales in receivables
2. Write a memo explaining to your client which ratio values showed improvement from 2016 to 2017 and which ratio values deteriorated. State whether the overall trend is favourable or unfavourable for the company, give the reason for your evaluation, and advise your clientregarding its investment.
3. Recommend two ways to improve cash flow from receivables.
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Req 1 Dollar amounts inmillions 2017 2016 a b c Req 2 MEMORANDUM DATE TO Investor in New ...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0134564142
6th Canadian edition
Authors: Walter Jr. Harrison, Charles T. Horngren, C. William Thomas, Greg Berberich, Catherine Seguin
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