(4) Make a financial statement analysis using the following financial ratios:
Ratios 2006: Current Ratio 3.95x, Acid Test Ratio 1.8x, Return on Sales 5%,
Return on Total Assets 46%, Return on Equity 21%, Debt Ratio .30x.
Ratios 2007: Current Ratio 4.11x, Acid Test Ratio 1.95x, Return on Sales 5%, Return on Total Assets 48%, Return on Equity 28%, Debt Ratio .26x.
1. Use accrual-basis accounting system.
2. Use an eight-column worksheet to produce your financial statement "
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