Slick Corporation has summarized financial statements as shown below. Fill in the blank areas to complete the financial statements. Begin in 2012 and move forward from there.
Definitions:
Credit Policies
Guidelines a company follows to determine credit terms for customers, including who is eligible for credit and on what terms.
Switching
The act of changing from one option, system, service, product, or company to another, often seen in customers changing providers or businesses changing suppliers or technologies.
Economic Order Quantity
A formula used by companies to determine the optimal order size that minimizes the total costs associated with inventory.
Carrying Cost
The total cost of holding inventory, which includes storage, insurance, depreciation, spoilage, and opportunity cost.
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