question P2-10

The financial statements of Access Corporation for the year ended December 31, 2012, follow. Access Corporation's annual purchases are estimated to equal 75% of cost of goods sold. The firm's 3,000 outstanding shares of common stock closed 2012 at a price of $25 per share. Use the preceding financial statements to complete the following table. Assume that the industry averages given in the table are applicable for both 201 I and 2012. Analyze Access Corporation's financial condition as it relates to (1) liquidity, (2) activity, (3) debt, (4) profitability, and (5) market value. Summarize the company's overall financial condition. Based on a 365-day year and on end-of-year figures