question 7 is not included in this one.

The following financial statements are for X-cell Inc. X-celino Income Statement For Yours Ended December 31, 2014 2013 and 2012 2014 2013 2012 Sales 833, 100 764,400 756.000 Cost of goods sold 219.500 223,600 221,700 Gross profit from sos 613.600 540,800 534,300 Operating expenses 145,700 155, 100 149,300 Operating income 467.900 385.700 385.000 Interest expenso 5.100 4,300 5,050 Income before taxes 462,800 381,400 379.950 Income taxes 59,800 74 400 86 200 Net income 403,000 307.000 293,750 Xcelling Banc Gheet December 31, 2014, 2015, ond 2012 Assets 2014 Cash 20,300 Short-term investments 18,000 Accounts receivable.net 30 500 Merchandise inventory 61600 Prepaid expenses 2,100 Notes receivable, due in 2018 10,500 Property, plant and equipment net 125.000 Total assets 288,000 Labies and Equity Accounts payable 40,200 Solares payable 20,600 Income taxes payable 10.050 Long-term note payable secured by mortgage on plant assets 70,000 Share capital 100.000 Retained earnings 20.550 Total abilities and equity 268,000 2013 18,900 16,000 29,000 70 300 2.100 13,000 116.000 265,300 35,200 17,300 10.100 69,000 110.000 24,700 265 300 runnla tuntur me that all har Compute the acid-test ratio below, and indicate whether the change from year to year is favourable or unfavourable. For your analysis, assume that all other things have remained constant. Apply your analysis in very general terms. All values should be accurate to at least two decimal places. Ratio 2014 2013 Measure of Analysis Acid-test ratio (select one (select one) (select one) Short-term dal poying ability immediate short-term debt-paying ability Question 7 [5 points) Liquidity and efficiency of collection Liquidity and efficiency of inventory Choose the term that best matches each of the following descuidity of receivato Liquidity of inventory efficiency of assets in producing solos a) Select Mower In a LLP, people who have lir Creditor financing and leverage pe partnership as specified in the partnership agreement Owner financing b) select answer The distribution of the busindprotection to secured creditors Protection in meeting interest payments c) select answer Aform of partnership that is set income in each sales dolor Myers and accountants and has limited partners with limited liabilities Gross margin in och salos dollar Overall prontabilty of assets Profitability of owner's investment d) select answer A partner can commit the par ability to borrow and repay money partner is an authorized agent of the partnership Compute the acid-test ratio below, and indicate whether the change from year to year is favourable or unfavourable. For your analysis, assume that all other things have remained constant. Apply your analysis in very general terms. All values should be accurate to at least two decimal places. RADO 2014 2013 Measure of Anoysis Acid-test ratio (Gelect one) (Select one) select one Favours Unfavourable Question 7 [5 points]