Indicate, by using ratios, the change in liquidity and profitability of Messersmith Company from 2016...
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Indicate, by using ratios, the change in liquidity and profitability of Messersmith Company from 2016 to 2017. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) Financial information for Messersmith Company is presented below. Inventory at the beginning of 2016 was exist224, 200. Total assets at the beginning of 2016 were exist1, 197,000. No common stock transactions occurred during 2016 or 2017. All sales were on account. Accounts receivable, net at the beginning of 2016 were exist167, 200. Notes payable are classified as current liabilities. (b) Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2017, and (2) as of December 31, 2018, after giving effect to the situation. Net income for 2018 was exist95,000. Total assets on December 31, 2018, were exist1, 330,000. (Round answers to 1 decimal place, e.g. 6.8 or 6.8%.)
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