Given the i

Statement #1: Cold Goose's net collection of inventory items increased by more than the firm's sales between Years 1 and 2. This statement is , because: Total inventories of raw materials, work-in-process, and final goods decreased by $495 million between Year 1 and Year 2 The accruals balance decreased by $117 million between Years 1 and 2 Total inventories of raw materials, work-in-process, and final goods increased from $1,980 million to $2,475 million between Year 1 and Year 2 Statement #2: In Year 2, Cold Goose Metal Works Inc. was profitable. This statement is true , because: The cash and equivalents account increased between Years 1 and 2 Cold Goose's total assets increased between Years 1 and 2 Cold Goose's retained earnings account increased between the end of Years 1 and 2 Statement #1: Cold Goose's net collection of inventory items increased by more than the firm's sales between Years 1 and 2. This statement is , because: Total inventories of raw materials, work-in-process, and final goods decreased by $495 million between Year 1 and Year 2 The accruals balance decreased by $117 million between Years 1 and 2 Total inventories of raw materials, work-in-process, and final goods increased from $1,980 million to $2,475 million between Year 1 and Year 2 Statement #2: In Year 2, Cold Goose Metal Works Inc. was profitable. This statement is true , because: The cash and equivalents account increased between Years 1 and 2 Cold Goose's total assets increased between Years 1 and 2 Cold Goose's retained earnings account increased between the end of Years 1 and 2