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Refer to the financial statements from Culinary Delights Company.
REQUIRED:
A Calculate the company's current and acid-test ratios for 2016. Would you lend this company $4,000,000 at 10% over a one-year period? Explain. Note: The statements provided are in "thousands."
B Suppose the company has credit terms of 20 days and all sales are on credit. During 2016, what credit management problems does this company have, if any? Explain
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