$100,000 $80,000 $60,000 $40,000 $20,000 $0 Sales Tableau DA 4-3: Mini-Case, Preparing a classified balance sheet LO P1, P4 As owner of Telo, a startup business, you are struggling to generate enough gross profit to compete with Creft and Wozz. Also, your business frequently runs low on cash. To help determine how to fix these issues, you review the following Tableau Dashboard. Sales and Costs for Competing Companies Telo Creft Wozz Sales discounts Sales returns & allowances Cost of goods sold Sales Sales discounts Sales returns & allowances Cost of pjos spoo Sales Sales discounts Sales returns & allowances Cost of Plos spoo Land Telo's Assets Amounts at December 31 Supplies Inventory Cash Accounts receivable Telo Creft Wozz Buildings Credit Terms (Days) Telo's Liabilities & Equity Amounts at December 31 Retained Earnings Wages payable 0 10 20 30 40 50 60 70 Customer Return Policies Across Competitors Common Stock Creft Telo Creft Telo Notes payable Accounts payable Wozz +ableau 1. Prepare Telo's classified balance sheet as of December 31. 2. Which of following actions would increase the amount of cash available to Telo? 3. Which one of the following actions would most likely reduce sales returns and allowances? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare Telo's classified balance sheet as of December 31. TELO Balance Sheet December 31 O Required 1 Required 2 Required 3 Prepare Telo's classified balance sheet as of December 31. Current assets Total current assets Plant assets Total plant assets Total assets TELO Balance Sheet December 31 Assets $ 0 0 $ 0 Total plant assets Total assets Current liabilities Total current liabilities Long-term liabilities Total liabilities 0 $ 0 Liabilities Equity $ 0 0 0 $ 0 Total equity Total liabilities and equity < Required 1 Required 2 > 3. Which one of the following actions would most likely reduce sales returns and allowances? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Which of following actions would increase the amount of cash available to Telo? (Select all that apply) 0008 Reduce the credit period for its credit sales to customers. Increase the credit period for its credit sales to customers. Increase the inventory available for sale. Negotiating an increase in the credit period for purchases with suppliers. < Required 1 Required 3 > 3. Which one of the following actions would most likely reduce sales returns and allowances? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Which one of the following actions would most likely reduce sales returns and allowances? Restricting the return policy from 60 days to 15 days. Which one of the following actions would most likely reduce sales returns and allowances? < Required 2 Required 3 >