QUESTION 1 Selected data from the financial statements of Bloom's Garden Centre is provided below. 2016 2017 $70 000 Accounts receivable $46 000 Inventory 10 000 17 000 Total assets Net sales 470 000 390 000 170 000 360 000 250 000 220 000 Cost of goods sold Which of the following would be found through ratio analysis of Bloom's financial statements? O Accounts receivable increased $24 000 during 2017 O Cost of goods sold increased $50 000 or 22.72% in 2017 O Total assets increased 30.55% during 2017 O The receivable turnover ratio is 2.28 in 2017 QUESTION 2 Amethyst Company paid off a $100 000 two-year note payable. The effect of this transaction is that the: O both quick and current ratios decreased O debt-to-equity ratio increased O current ratio increased O earnings per share increased