Problem 4 Financial information for Chimera Company is prezented here. Addibonal intormator: 1. Irwentory at the beginning of 2013 wae $330,000. 2. Accounts receivable at the beginning of 2013 were $90,000. 3. Total assets at the beginning of 2013 were $1,175,000. 4. No common stock transactions occurred during 2013 or 2014. 5. All szlez were on account. Instructions (a) Indicate, by using ratios, the change in liquidity and profitability of the company from 2013 to 2014. (Note: Not all proftability ratioe can be computed nor can cachbaeis ratios be computad.) (b) Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) of December 31, 2014, and (2)=2 of December 31, 2015, after giving effect to the situation. Net income for 2015 wes $125,000. Total aceets on December 31, 2015, were $1,450,000. Problem 4 Financial information for Chimera Company is prezented here. Addibonal intormator: 1. Irwentory at the beginning of 2013 wae $330,000. 2. Accounts receivable at the beginning of 2013 were $90,000. 3. Total assets at the beginning of 2013 were $1,175,000. 4. No common stock transactions occurred during 2013 or 2014. 5. All szlez were on account. Instructions (a) Indicate, by using ratios, the change in liquidity and profitability of the company from 2013 to 2014. (Note: Not all proftability ratioe can be computed nor can cachbaeis ratios be computad.) (b) Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) of December 31, 2014, and (2)=2 of December 31, 2015, after giving effect to the situation. Net income for 2015 wes $125,000. Total aceets on December 31, 2015, were $1,450,000