Use the attached Quality Indicator Checklist and the financials from Triangle Company (Week 3), along with your homework from the previous week to answer the Balance Sheet and Profit & Loss Statement questions on the checklist. -- CheckList is at the bottom.

Are the calculations near the terms? Within 10 days are within terms.

TRIANGI F C.O TRIANGLE CO. PROFIT \& LOSS STATEMEN isert answers in the Blue Shade A market study was completed for a retail operation. The market study and RMA indicates: (Show all of your work) - What is the operating cycle (in days)? Choose the correct formula Operating Cycle =40+90=130 days Net Operating Cycle =1304010=80 days - What is the A/R at the end of the year (\$'s)? Choose the correct formula A/RX365/1,000=40 1000X40/365=$109.59 - What is the Inventory at the end of the year (\$'s)? Choose the correct formula Inventory X 365/600=90 Inventory =600X90/365=$147.95 - What is the Accounts Payable at the end of the year (\$'s)? Choose the correct formula 4 Accounts payable 365/600=40 =600X40/365=$65.75 - What is the Accruals at the end of the year (\$'s)? Choose the correct formula Accrued expenses X 365/1000 =10 =1000X10/365=$27.40 - What is the investment in PWC (\$'s)? Choose the formula-you will be using the answers from above. Current assets A/R+ Inventory 109.59+147.95=257.54 Current liabilities AP+AE65.75+27.40=93.15 PWC 177 Quality Indicator Checklist Balance Sheet Yes/No/Neutral 1. Does company collect? Are Days Receivable nearly equal to Payment Terms? 2. Does Company pay? Are Days Payable about equal to Payment Terms? Are Payables