Statement 2: In Year 2, Cold Goose Metal Works Inc. was profitable. This statement is because: Cold Goose's total assets increased between Years 1 and 2 The cash and equivalents account increased between Years 1 and 2 O Cold Goose's retained earnings account increased between the end of Years 1 and 2 Statement #3: One way to interpret the change in Cold Goose's accounts receivable balance from Year 1 to Year 2 is that more customers purchased new items on credit rather than paying off existing credit accounts. This statement is because: The decrease from $844 million to $675 million implies a net decrease in accounts receivable and that more customers are paying off their receivables balances than are buying on credit Statement 2: In Year 2, Cold Goose Metal Works Inc. was profitable. This statement is because: Cold Goose's total assets increased between Years 1 and 2 The cash and equivalents account increased between Years 1 and 2 O Cold Goose's retained earnings account increased between the end of Years 1 and 2 Statement #3: One way to interpret the change in Cold Goose's accounts receivable balance from Year 1 to Year 2 is that more customers purchased new items on credit rather than paying off existing credit accounts. This statement is because: The decrease from $844 million to $675 million implies a net decrease in accounts receivable and that more customers are paying off their receivables balances than are buying on credit