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Chippewa Corporation reported the following items at December 31, 2018 and 2017: the icon to view the comparative financial information) Read the reguirements Requirement 1.
Chippewa Corporation reported the following items at December 31, 2018 and 2017: the icon to view the comparative financial information) Read the reguirements Requirement 1. Compute the companys) quick (2016-) rato and (b) deye sales outstanding for 2016. Eve each radio www ws stronger weak. A saten we on account with terms of net 30 days (a) Enter the formula and out the quick (016-02) ratio for 2018. (Abbreviation red. Can Cash and cathcarta. Round you to wwwer to two decin places) Cos Short-term investments Net current receivables TOEN current Quick (aciderato Requirements 1. Compute the company (a) Quick (acid-bost) ratio and (b) day sales outstanding for 2018. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days 2 Recommend two ways for Chippewa to speed up its cash flow from receivables Print Done Data Table > Balance Sheets (Summarized) Year End Year End 2018 2017 2018 2017 Current assets: $ 19,000 $ 104,000 20,000 20,500 106,000 21,000 Cash Marketable securities Accounts receivable, net Inventory Other current assets Long-term assets Total assets Current liabilities: $ 15,000 $ 11,000 Accounts payable 26,000 15,000 Other current liabilities 60,000 74,000 Long-term liabilities 191,000 187,000 4,000 4,000 Stockholders' equity 10,000 $ 296,000 $ 301,000 Total liabilities and equity 153,000 153,500 296,000 $ 301,000 2018 Income Statement (partial): Sales revenue $ 871,000 Print Done
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