Mark the following statements as True $($T$)$ or False $(F)$ in the blank provided. $(1$ pt$.$ each$)$

Two tools to aid in analyzing the liquidity of a company are current ratio and gross profit ratio.

A loss is not included in computing net income from operations on a multi$-$step income statement.

Comparability allows comparisons to be made within a single company from one accounting period

to the next.

Aggie Company purchases Wal$-$Mart stock and intends to hold the stock for two years before selling.

Aggie should record this as a current asset on the balance sheet because the stock is easily converted to cash.

Retained Earnings is defined as net income over the life of the company.

Recording assets at historical cost is considered a limitation of the balance sheet.