Chapter 4 Question Rachel's Restaurant Balance Shee This Year 61.049 104 615 57,317 130.769 34445 4165 205 556 115419 TTTT 2651 15514 Other Assets TOTALASSES TITI LITIES AND OWNERS FOUITY Current Libilities Accounts Payable 253,354 R286 192279 Other Current Liabiles GT Toro Liabilnics Long Term Det Total Liabili 102.560 2TLENIE SELLEL 102631 421521 2546 Total O y TOTAL LIABILITIES AND OWNERS' EQUITY Rachel wanted to try to decrease her accounts receivable this year. Dushe do this Answer b. Rachel wanted to try to reduce her inventories this year to be more in line with average Inventories Du dhe do Answer: c. Rachel wanted to reduce her accounts payable this year. Did she do this? d. Rachel wanted to pay off more of her total current liabilities this year. Did she do this? Answer e. Based on the changes reported in her balance sheet do you think Rachel's restaurant likely made a profitast year? Why or why not