095 in 2007 to 04 in 2008 showing less efficient use

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Unformatted text preview: $2,205,000 in 2008, leading to a nearly equivalent increase in total current assets. Wipfli was able to reduce their amounts payable to third- party reimbursement programs by $1,714,400 in 2008. Wipfli’s Current Ratio was 3.91 in 2007 and maintained a ratio of 2.92 in 2008. Return on Assets decreased from .095 in 2007 to .04 in 2008, showing less efficient use of resources. Also, their Debt Ratio between the two years averaged out at 38.65%. The Statements of Cash Flows shows a difference of $9,109,200 with regards to increases in net assets. 2007, Wipfli...
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This document was uploaded on 02/24/2014 for the course HCM 4550 at University of Minnesota Duluth.

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