This is Financial Accounting

LO 2 5Case 3. (Learning Objectives 2, 5: Identify action to cut losses and establish profitability) Suppose you manage Outward Bound, Inc., a Vermont sporting goods store that lost money during the past year. To turn the business around, you must analyze the company and industry data for the current year to learn what is wrong. The company's data follow: A1 Outward Bound, Ind. Common-Size Balance Sheet Data Outward Bound ndustry Average 68% 3 Cash and short-term investments 4 Trade receivables, net 0% 15.2 11.0 60.5 0.0 78.3% 15.2 6.5 100.0% Inventor Prepaid expenses Total current assets 83.4% ixe ne 4.0 10 ho 12 13 14 15 Total current liabilities 16 Long-term debt 17 Total liabilities 18 19 20 14.0% 25.1 7.9 47.0 6.4 63.4 pay paya rued liabilities 46.0 on stockholders' equity liabilities and stockholders'equi 100.0%