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Chapter 8 Question 3 answer all of the requirements please The comparative financial statements of Essex Cosmetic Supply for 2024,2023 , and 2022 include the

Chapter 8 Question 3 answer all of the requirements please image text in transcribed

The comparative financial statements of Essex Cosmetic Supply for 2024,2023 , and 2022 include the data shown here: (Click the icon to view the comparative financial data.) Read the ]71]7=Acid-testratio== 2024 11 1=1 2023 = Requirement 2. Considering each ratio individually, which ratios improved from 2023 to 2024 and which ratios deteriorated? Is the trend favorable or unfavorable for the company? The acid-test ratio from 2023 to 2024 . This trend the company. The accounts receivable turnover from 2023 to 2024 . This trenc the company. The days' sales in receivables [_ ] from 2023 to 2024. This trend the company. Requirements 1. Compute these ratios for 2024 and 2023 : a. Acid-test ratio (Round to two decimals.) b. Accounts receivable turnover (Round to two decimals.) c. Days' sales in receivables (Round to the nearest whole day.) 2. Considering each ratio individually, which ratios improved from 2023 to 2024 and which ratios deteriorated? Is the trend favorable or unfavorable for the company

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