Statement 1 : Cold Goose's accurnulated owed financial oblogvtions decreased from Year 1 to Year 2. Thes statement is becouse: Notes payable actually increased from $1,660 milion to $1,562 million between rears 1 and 2 . Accruals actually increased from so in Year 1 to $203 mition at the end of Year 2. Long term debt decreased from $1,660 million at the end of Year 1 to $1,562 mulion by the end of Year 2. Statement =2 : Over the past two years, Cold coose Metal Works Inc, has relied more on the use of short term dets thin on lang-term debt financing. This statement is because: Cald Goose's total notes payable increased by $98 mallion, while its cornmon stock account increased by $3,047 million. Cold Goose's total current liabities increased by $391 million, while its use of long term debt increased by $1,171 milbon. Cold Goose's total current liabdities decreased by $391 milion, while its long term debt account decreased by $1,171 milion. Statement \#3: One way to interpret the change in Coid Goose's accounts receivable balance from Year 1 to Year 2 is that more castomers purchased new items on credit rather than paying off exsting credit accounts. This statement is because: The change from 54,950 million to $6,187 million reflects a net accumulation of new credt sales. The \$421 milion increase in accounts receivable means ether that Year 1 's existing credit customers are not paying off their owed balances and new or existing customers are malong additional purchases on credt, or that Year 1 's credit custorners have repaid their owed balances and Year 2 credit sales have coceeded Year 1 's credit sales. The decrease from $2,109 million to $1,688 million implies a net decrease in accounts receivable and that more custorness are payng off their receivables balances than are buying on credit