Please use the financial statements for the following three questions:

a. Calculate JWs CCE, Cash Ratio, DCH, and NLB

b. Interpret the 2-year trend in the measures.

c. How would you describe JWs liquidity position?

JW, Inc.: Income Statement
	2020	2019
Sales	$5,700	$5,050
CGS	($4,560)	($4,040)
Gross Profit	$1,140	$1,010
Operating Expenses	($500)	($420)
Depreciation	($27)	($26)
EBIT	$613	$394
Interest Expense	($35)	($30)
EBT	$578	$364
Taxes	($231.20)	($145.60)
NI	$346.80	$218.40
Dividends	$-	$-
RE	$346.80	$218.40
JW, Inc.: Balance Sheet
	2016	2015
Cash and Equivalents	$614.80	$120
Accounts Receivable	$500	$500
Inventory	$300	$340
Total Current Assets	$1,414.80	$960
Fixed Assets	$660	$800
Accumulated Depreciation	($227)	($200)
Net Fixed Assets	$433	$600
Total Assets	$1,847.80	$1,560
Accounts Payable	$320	$300
Short-Term Notes Payable	$40	$50
Accurals	$11	$10
Total Current Liabilities	$371	$360
Long-Term Debt	$680	$750
Total Liabilities	$1,051	$1,110
Common Stock	$120	$120
Retained Earnings	$676.80	$330
Total Shareholders' Equity	$796.80	$450
Liabilities and Shareholders' Equity	$1,847.80	$1,560