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The net income for 2018 and 2017 were $91,465 and $279,058 respectively.
Question 1: The accountant, in analysing the Statement of Financial Position, observed that the unearned revenue has increased in the current year when compared to the prior year. Is this a positive or negative indicator about the company's liquidity? Explain.
Question 2: Evaluate the company's liquidity and financial flexibility by calculating and analysing the following ratios for the two year period.
(i) Current ratio
(ii) Acid Test Ratio
(iii) Deb-to-total Assets
(iv) Rate of return on Assets
Attachment:- lquidity.zip
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