Ricon Company Had the Following Data Available from the Statements

question 12

Essay

Ricon Company had the following data available from the statements of financial position and income statements: $$\begin{array}{l}\begin{array} { | l | r | r | } \hline \text { Current assets: } &20X2&20X3 \\\hline \text { Trade receivables } & \$ 4 , 0 0 0 & 6 , 0 0 0 \\\hline \text { Cash } & 7,000 & 8,000 \\\hline \text { Inventory } & 10,000 & 12,000 \\\hline \text { Total assets } & 50,000 & 60,000 \\\hline \text { Current liabilities } & 15,000 & 20,000 \\\hline \text { Shareholders' equity: } & & \\\hline \text { Common stock, par \$5 } & 20,000 & 20,000 \\\hline \text { Retained earnings (including profit for 20X2 and } & 6,000 & 11,000 \\ \text { 20X3, respectively) } & & \\\hline \text { Total sales revenue } & 80,000 &100,000 \\\hline \text { Credit sales } & 26,000 & 30,000 \\\hline \text { Cost of goods sold } & 60,000 & 80,000 \\\hline \text { Income (before taxes) } & 5,000 & 7,000 \\\hline \text { Income tax (20\%) } &1,000 &1,400 \\\hline\end{array}\\\\\begin{array} { | l | l | l | l | } \hline & \text { Ratio } & 20X2 & 20X3 \\\hline \text { a. } & \text { Current ratio } & & \\\hline \text { b. } & \text { Quick ratio } & & \\\hline \text { c. } & \text { Earnings per share of common stock } & & \\\hline\end{array}\end{array}$$

Recognize the importance of intuition, creativity, and information in leadership decision-making processes.

Grasp the steps involved in the decision making process, including problem definition and alternative generation.

Identify examples of objective probability in real-world scenarios.

Address misconceptions about crisis preparation strategies in business leadership.

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Definitions:

Piaget

Refers to Jean Piaget, a Swiss developmental psychologist and philosopher known for his epistemological studies with children and his theory of cognitive development.

Symbolic Play

Play in which children make believe that objects and toys are other than what they are. Also termed pretend play.

Constructive Play

A form of play involving the manipulation of objects to create or construct something, promoting learning and development.

Preschooler

A child typically between the ages of 3 and 5 years who is attending or preparing to attend preschool.