Wee Ones Washer-Sioux City completed the following transactions during 2024, it year of operations (Click the icon to view the transactions.) Wee Ones Washer-Sioux City has just purchased a franchise from Wee Ones Washer (WOW). (Click the icon to view the additional information.) Following is the chart of accounts for Wee Ones Washer-Sioux City. As a new business, all beginning balances are $0. (Click the icon to view the chart of accounts.) Read the requirements BR Long-term Liabilities 600.000 Notes Payable 1,000,000 Total Liabilities Owner's Equity $ 1,218,183 Bamara, Capital $ 2,218,183 Total Liabilities and Owner's Equity Requirement 8. Evaluate the company's success for the first year of operations by calculating the following ratios. Round to two decimal places. Comment on the results. a. Liquidity: (i) Current ratio, (ii) Acid-test ratio, and (iii) Cash ratio For each liquidity ratio, select the appropriate formula and then calculate the ratio. (Round each ratio to two decimal places, X.XX. Abbreviations used STI = short-term investments (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Formula Ratio 5.5 Current assets - Current liabilities Liquidity (0) Current ratio (ii) Acid-test ratio (iii) Cash ratio = (Cash + Cash equivalents + STI + Net current receivables) - Current liabilities (Cash + Cash equivalents) + Current liabilities Clear All Check Ans Tutoring e Text Pages Get More Help E BV Homework: Comprehensive Sa MyLab and Mastering Reference g transactions during 2024 Grades Zoom Wee Ones Washer-Sioux City has (WOW). (Click the icon to view the addit Following is the chart of accounts fo all beginning balances are $0 (Click the icon to view the chart Assignments People Wee Ones Washer-Sioux City Income Statement Year Ended December 31, 2024 Net Sales Revenue Long-term Liabilities $ 2.125,000 917,000 My Media Notes Payable Cost of Goods Sold Gross Profit 1,208,000 Online Tutoring Total Liabilities Chat S Bamara, Capital 212,500 210,000 Contact an Online Navigator Total Liabilities and Owner's Equity 12,500 1,400 Requirement 8. Evaluate the comp ent on the results. Library Operating Expenses Franchise Fee Expense Salaries Expense Utilities Expense Insurance Expense Supplies Expense Bad Debt Expense Bank Expense Credit Card Expense Depreciation Expense-Building 1,277 a. Liquidity: (i) Current ratio, (ii) Acid Library Guide 14.400 TI = short-term investme For each liquidity ratio, select the ap (Click the icon to view the incon 2.130 Student Course Evaluations 750 22,000 Liquidity (i) Current ratio (ii) Acid-test ratio (iii) Cash ratio III (Cas Print Done Tutoring e Text Pages Get more met Great Check Reference Grades Ig transactions during Zoom Wee Ones Washer-Sioux City has (WOW). i (Click the icon to view the addit Following is the chart of accounts fo all beginning balances are $0. i (Click the icon to view the chart 1217 14.400 Assignments 2.130 People 750 Long-term Liabilities: 22,000 My Media Notes Payable Online Tutoring Joppe Lapers Bad Debt Expense Bank Expense Credit Card Expense Depreciation Expense-Building Depreciation Expense Store Fixtures Depreciation Expense-Office Equipment Amortization Expense-Franchise Cash Short and Over Total Operating Expenses Operating Income Other Income and (Expenses) Interest Revenue 6,500 20.000 Total Liabilities 4.900 Chat Bamara, Capital 10 Contact an Online Navigator 508,367 Total Liabilities and Owner's Equity 699,633 Library Requirement 8. Evaluate the compl ent on the results. a. Liquidity: 0) Current ratio; (ii) Acid Library Guide For each liquidity ratio, select the ap (Click the icon to view the incor 18,550 (30,000) Interest Expense Total Other Income and (Expenses) Student Course Evaluations TI = short-term inves (11,450) Net Income (Loss) 688,183 Liquidity (i) Current ratio (ii) Acid-test ratio (iii) Cash ratio (Cas Print Done Tutoring e Text Pages GEL Tvore herp cleal Chec Type here to search O i Mastering Reference Grades tions during 2024, its first Zoom Wee Ones Washer-Siou (WOW) (Click the icon to view Following is the chart of ad all beginning balances are (Click the icon to view Assignments Wee Ones Washer-Sioux City Balance Sheet December 31, 2024 People Assets Long-term Liabilities My Media . Current Assets Notes Payable Total Liabilities Cash Online Tutoring S 487 913 Petty Cash 220 Chat Accounts Receivable $ Bamara, Capital 240.000 (14 400) Less Allowance for Bad Debts Contact an Online Navigator 225,600 Total Liabilities and Owne Merchandise Inventory 213.000 Library Requirement 8. Evaluate Office Supplies Prepaid Insurance 200 e results a. Liquidity: () Current ratid 1.400 Library Guide Interest Receivable For each liquidity ratio, seld (Click the icon to view 6.750 270.000 1 Notes Receivable It-term investments.) Student Course Evaluations Total Current Assets $ 1,205,083 Liquidity () Current ratio Property. Plant, and Equipment (ii) Acid-test ratio (iii) Cash ratio Print Done Tutoring e Text Pages Get more rep CILA AIT Check Answer Type here to search TIL BAC 101 christina spittle & Discussions = Homework: Comnrehensiva Question 1, CompF10-1 (... HW Score: 87.88%, 87.88 of 100 points Save MyLab and Mastering Reference tions during 2024, its first Grades Zoom Wee Ones Washer-Siou (WOW). (Click the icon to view Following is the chart of ad all beginning balances are i (Click the icon to view Interest Receivable 6,750 270,000 Assignments Notes Receivable $ 1,205,083 People Total Current Assets Property, Plant, and Equipment: Long-term Liabilities: My Media Land 140,000 Notes Payable Online Tutoring Total Liabilities 730,000 (22,000) 708,000 Chat Building Less Accumulated Depreciation-Building Store Fixtures Less: Accumulated DepreciationStore Fixtures Office Equipment Bamara, Capital 97,500 (6,500) 91.000 Contact an Online Navigator Total Liabilities and Owne 50,000 (20.000) 30,000 results ibrary Requirement 8. Evaluate a. Liquidity: 0) Current ratid 969,000 library Guide Less: Accumulated Depreciation-Office Equipment Total Property, Plant, and Equipment Intangible Assets Franchise It-term investments.) For each liquidity ratio, seld (Click the icon to view 44,100 tudent Course valuations S Total Assets 2,218,183 Liquidity: (1) Current ratio (ii) Acid-test ratio (iii) Cash ratio Print Done Tutoring e Text Pages Get vore nerp Clean AT Check Answer pe here to search o EP Syllabus Modules BAC 101 christina spittle & Discussions Homework: Comprehensive Question 1, CompF10-1 (... HW Score: 87.88%, 87.88 of 100 points Save MyLab and Mastering Reference tions during 2024, its first Grades 91.UUU oom Wee Ones Washer-Siou (WOW) (Click the icon to view Following is the chart of ad all beginning balances are i (Click the icon to view Less: Accumulated Depreciation Store Fixtures Office Equipment Less: Accumulated Depreciation Office Equipment Total Property, Plant, and Equipment Intangible Assets 50.000 (20,000) ssignments 30.000 eople 969,000 Long-term Liabilities: y Media 44,100 Notes Payable Franchise nline Tutoring $ Total Liabilities 2,218,183 Total Assets Liabilities hat Bamara, Capital Current Liabilities: ontact an Online avigator $ Total Liabilities and Owne 370,000 0.000 Requirement 8. Evaluate results orary $ 400,000 a. Liquidity: 0) Current ratio Accounts Payable Interest Payable Total Current Liabilities Long-term Liabilities Notes Payable Total Liabilities rary Guide 600.000 t-term investments) For each liquidity ratio, seld (Click the icon to view dent Course aluations 1,000,000 Owner's Equity Liquidity (1) Current ratio (ii) Acid-test ratio (ii) Cash ratio Print Done Tutoring e Text Pages Get more nerp - Clean IT Check Answer tions during 2024, its first Wee Ones Washer-Siou (WOW). (Click the icon to view Following is the chart of ad all beginning balances are (Click the icon to view 969,000 Total Property. Plant, and Equipment Intangible Assets Franchise 44.100 s 2,218,183 Total Assets Long-term Liabilities Liabilities Notes Payable Total Liabilities Current Liabilities Accounts Payable $ 370,000 30.000 Bamara, Capital Interest Payable Total Current Liabilities e S 400,000 Total Liabilities and Ownel Long-term Liabilities: Requirement 8. Evaluate 600.000 e results Notes Payable Total Liabilities a. Liquidity: 0) Current ratid 1.000.000 Owner's Equity It-term investments) For each liquidity ratio, seld (Click the icon to view $ Bamara, Capital 1,218,183 $ 2,218,183 Total Liabilities and Owner's Equity Liquidity O Current ratio (ii) Acid-test ratio (iii) Cash ratio Print Done Tutoring e Text Pages Get more nerp - Clear RII Check Answer ch O Ei