As owner of Telo, a startup business, you are struggling to generate enough gross profit to compete with Creft and Wozz Also, your business frequently runs low on cash To help determine how to fix these issues, you review the following Tableau Dashboard TELO YELLOW $85,000 TELO GREEN Cost of Goods sold $60,000 TELO PURPLE Sales discounts $6,000 TELO PINK Sales returns allowances $15,000 Creft Yellow Sales $78,000 Creft Green Cost of goods sold $56,000 Creft Purple Sales discounts $5,000 Creft Pink Sales returns allowances $3,000 Wooz Yellow Sales $82,000 Wooz Green Cost of gooods sold $58,000 Wooz Purple Sales discounts $4,000 Wooz Pink Sales Returns allowances $2,000 Supplies Purple 3,000 Land Yellow 12,000 Account Receivable Orange 8,000 Buildings Red 24,000 Cash Blue 2,000 Inventory Green 5,000 Telo Green Credit Period from Suppliers 30 days Telo Red Credit Period Given to Customers 75 days Creft Green Credit Period from Suppliers 35 days Creft Red Credit Period Given to Customers 45 days Woz Green Credit Period from Suppliers 40 days Woz Red Credit Given to Customers 50 days Retained Earnings Yellow Retained Earnings $6,000 Wages payable Dark Blue Wages payable $2,000 Notes payable Light Blue Notes payable (Due in 5 years) $31,000 Common Stock GREEN $10,000 Accounts payable Orange $5,000 Creft Orange Creft return policy 15 days Telo Red return policy 60 days Wozz Green return policy 10 days 1 Prepare Telos classified balance sheet as of December 31 2 Which of following actions would increase the amount of cash available to Telo 3 Which one of the following actions would most likely reduce sales returns and allowances Options for the left side table Current Assets, Liabilities and Equity Accounts payable Accounts receivable Buildings, net Cash Common stock Dividends Inventory Land Notes payable Retained earnings Supplies Wages payable Options for the last table Advertising campaign to increase sales Negotiating better credit terms with suppliers Restricting the return policy from 60 days to 15 days Switching to a lower cost and lower quality supplier Sales and Costs for Competing Companies Telo Creft Wozz $60,000 $40,000 $20,000 $0 Sales Sales discounts Sales returns allowances Cost of goods sold Sales Sales discounts Sales returns allowances Cost of goods sold Sales Sales discounts Sales returns allowances Cost of Pjos spoob Telo's Assets Credit Terms (Days) Amounts at December 31 Supplies Accounts receivable Telo Land Creft Wozz Inventory Buildings Cash 10 20 30 40 50 60 70 Telo's Liabilities Equity Customer Return Policies Across Competitors Amounts at December 31 Wages payable Retained Earnings Common Stock Telo Creft Notes payable Accounts payable Wozz TELO Balance Sheet December 31 Assets Current assets Total current assets Plant assets Total plant assets Total assets Liabilities Current liabilities Total current liabilities Long term liabilities Total liabilities Equity Total equity Total liabilities and equity Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Which of following actions would increase the amount of cash available to Telo (Select all that apply) Reduce the credit period for its credit sales to customers Increase the credit period for its credit sales to customers Increase the inventory available for sale Negotiating an increase in the credit period for purchases with suppliers Required 1 Required 2 Required 3 Which one of the following actions would most likely reduce sales returns and allowances Which one of the following actions would most likely reduce sales returns and allowances

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As owner of Telo, a startup business, you are struggling to generate enough gross profit to compete with Creft and Wozz. Also, your business frequently

As owner of Telo, a startup business, you are struggling to generate enough gross profit to compete with Creft and Wozz. Also, your business frequently runs low on cash. To help determine how to fix these issues, you review the following Tableau Dashboard.

image text in transcribed TELO YELLOW $85,000

TELO GREEN Cost of Goods sold: $60,000

TELO PURPLE Sales discounts: $6,000

TELO PINK Sales returns & allowances: $15,000

Creft Yellow Sales: $78,000

Creft Green Cost of goods sold: $56,000

Creft Purple Sales discounts: $5,000

Creft Pink Sales returns & allowances: $3,000

Wooz Yellow Sales: $82,000

Wooz Green Cost of gooods sold: $58,000

Wooz Purple Sales discounts: $4,000

Wooz Pink Sales Returns & allowances: $2,000

image text in transcribed Supplies Purple 3,000

Land Yellow 12,000

Account Receivable Orange 8,000

Buildings Red 24,000

Cash Blue 2,000

Inventory Green 5,000

Telo Green Credit Period from Suppliers: 30 days

Telo Red Credit Period Given to Customers: 75 days

Creft Green Credit Period from Suppliers: 35 days

Creft Red Credit Period Given to Customers: 45 days

Woz Green Credit Period from Suppliers: 40 days

Woz Red Credit Given to Customers: 50 days

image text in transcribed

Retained Earnings Yellow Retained Earnings: $6,000

Wages payable Dark Blue Wages payable: $2,000

Notes payable Light Blue Notes payable (Due in 5 years): $31,000

Common Stock GREEN: $10,000

Accounts payable Orange: $5,000

Creft Orange Creft return policy 15 days

Telo Red return policy 60 days

Wozz Green return policy 10 days

1. Prepare Telos classified balance sheet as of December 31. 2. Which of following actions would increase the amount of cash available to Telo? 3. Which one of the following actions would most likely reduce sales returns and allowances? image text in transcribed

Options for the left side table Current Assets, Liabilities and Equity

Accounts payable
Accounts receivable
Buildings, net
Cash
Common stock
Dividends
Inventory
Land
Notes payable
Retained earnings
Supplies
Wages payable

image text in transcribed

image text in transcribed Options for the last table

Advertising campaign to increase sales.
Negotiating better credit terms with suppliers.
Restricting the return policy from 60 days to 15 days.
Switching to a lower cost and lower quality supplier.

Sales and Costs for Competing Companies Telo Creft Wozz $60,000 $40,000 $20,000 $0 Sales Sales discounts Sales returns & allowances Cost of goods sold Sales Sales discounts Sales returns & allowances Cost of goods sold Sales Sales discounts Sales returns & allowances Cost of Pjos spoob Telo's Assets Credit Terms (Days) Amounts at December 31 Supplies Accounts receivable Telo Land Creft Wozz Inventory Buildings Cash 10 20 30 40 50 60 70 Telo's Liabilities & Equity Customer Return Policies Across Competitors Amounts at December 31 Wages payable Retained Earnings Common Stock Telo Creft Notes payable Accounts payable Wozz TELO Balance Sheet December 31 Assets Current assets Total current assets Plant assets Total plant assets Total assets Liabilities Current liabilities Total current liabilities Long-term liabilities Total liabilities Equity Total equity Total liabilities and equity Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Which of following actions would increase the amount of cash available to Telo? (Select all that apply) Reduce the credit period for its credit sales to customers. Increase the credit period for its credit sales to customers. Increase the inventory available for sale. Negotiating an increase in the credit period for purchases with suppliers. Required 1 Required 2 Required 3 Which one of the following actions would most likely reduce sales returns and allowances? Which one of the following actions would most likely reduce sales returns and allowances?