XYZ Co.s summary balance sheets for 2017 and 2018 are below: XYZ Co. Balance Sheets 2017 2018

Cash 400,000 300,000

Accounts receivable 800,000 _________

(b) Net fixed assets 1,600,000 2,300,000 TOTAL ASSETS _________ _________

Accounts payable 250,000 300,000 Short-term debt 350,000 400,000

Long-term debt 800,000 800,000 Shareholders equity _________

(a) 1,500,000 TOTAL LIABIL. & SHAREHOLDERS EQUITY _________ _________

Calculate the following: a) Shareholders equity in 2017

b) Accounts receivable in 2018

c) If XYZ Co. has a company policy to keep 100% of the net earnings (or net profits) at the end of each year as retained earnings, what was the net earnings in 2017?(Note: there is nothing missing or misleading in this question. The info on this page is sufficient to answer it.)

d) Did the liquidity of the firm get better or worse from 2017 to 2018? (2 pts) (Note: there is nothing missing or misleading in this question. The info on this page is sufficient to answer it.)