15. Assume that you come into the audit of Sleep Number with the following expectations. Sales will decrease by 5% compared to the prior period. Cost of sales as a percent of sales will be 41% of the decreased sales level. Property and Equipment will consist of additions of $10,000 and depreciation of the same amount as the prior year (46,000). No significant dispositions are expected. What are is the dollar amount you would expect to see on the financial statements at 9/26/20 for the following accounts, using the assumptions above. Sales Cost of Sales Property and Equipment 16. Discuss the liquidity position of the Company (ability to meet immediate debt obligations) as compared to the prior year and/or compared to its industry (competitor). Use ratios to support your explanation. 17. Discuss the solvency of the Company (ability to meet long-term obligations to debt and stockholders and maintain growth in operations). Use ratios to support your explanation. 18. Discuss the performance of the Company in terms of earnings and/or cash flow potential and trend in earnings and/or cash flow. Use ratios and your research to support your explanation. 15. Assume that you come into the audit of Sleep Number with the following expectations. Sales will decrease by 5% compared to the prior period. Cost of sales as a percent of sales will be 41% of the decreased sales level. Property and Equipment will consist of additions of $10,000 and depreciation of the same amount as the prior year (46,000). No significant dispositions are expected. What are is the dollar amount you would expect to see on the financial statements at 9/26/20 for the following accounts, using the assumptions above. Sales Cost of Sales Property and Equipment 16. Discuss the liquidity position of the Company (ability to meet immediate debt obligations) as compared to the prior year and/or compared to its industry (competitor). Use ratios to support your explanation. 17. Discuss the solvency of the Company (ability to meet long-term obligations to debt and stockholders and maintain growth in operations). Use ratios to support your explanation. 18. Discuss the performance of the Company in terms of earnings and/or cash flow potential and trend in earnings and/or cash flow. Use ratios and your research to support your explanation