Use the following to answer Questions 1 3 Firm X Y Assets $1.2 million $1.7 million Debt $500,000 1.4 million Sales $3.5 million 3.5 million Earnings $277,000 $377,000

1. (5 points possible) Based only upon the above information, which firm has better operating cost control? How did you make your decision? 2. (5 points possible) Based only upon the above information, which firm is better at managing its assets? How did you make your decision? 3. (5 points possible) Overall, based only upon the above information, which firm is doing better? (Keep in mind what is the goal of Financial Management?)