Telo's Assets Amounts at December 31 Supplies Telo's Liabilities \& Equity Amounts at December 31 Credit Terms (Days) Telo Customer Return Policies Across Competitors Retained Earnings Wages payable TELO Balance Sheet December 31 Assets Current assets Total current assets Plant assets Total plant assets Total assets Liabilities Which one of the following actions would most likely reduce sales returns and allowances? Total liabilities \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline Total equity & & \\ \hline Total liabilities and equity & & \\ \hline \end{tabular} 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. Prepare Telo's classified balance sheet as of December 31. As owner of Telo, a startup business, you are struggling to generate enough gross profit to compete with Creft and Wozz. Alsc your business frequently runs low on cash. To help determine how to flx these issues, you review the following Tableau Dashboard. Sales and Costs for Competing Companies Telo's Liabilities \& Equity Amounts at December 31 Customer Return Policies Across Competitors Telo Wozz Which of following actions would increase the amount of cash available to Telo? (Select all that apply) 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