The following information is available from the Lyon Company accounting records:
Required:
1.Prepare a statement of cash flows in thousands of dollars using the direct method.
2.Calculate the following ratios:
a.Current ratio
b.Quick ratio
c.Working capital to total assets
d.Accounts receivable turnover
e.Age of accounts receivable
Definitions:
Quantifier
A logical term used to specify the quantity of specimens in the domain of discourse that satisfy an open sentence.
Open Sentences
Statements in mathematics that contain one or more variables and can be true or false depending on the values of these variables.
Scope
In discussion or analysis, scope refers to the extent or range of view, outlook, application, operation, or effectiveness of a subject.
Truth-Functional Compound
A complex statement whose truth value is determined by the truth values of its component statements and the logical connectives that combine them.
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