Presented below are condensed data from the financial statements of Gallo Factory for 2017 and 2016.The figures are expressed in thousands.Use this information to answer the questions that follow.
Statement A Total current assets Property, plant, and equipment (net of accumulated depreciation) Investments Other assets Total assets Total current liabilities Long-term debt Deferred income taxes and contingencies Total liabilities Total stockholders’ equity Total liabilities and stockhol ders’ equity Statement B Net sales Cost of sales Gross profit Selling, general, and administrative expenses Other income (expense) Income (loss) before income taxes Income tax expense Net income (loss) 2017$82,30963,4513033,438$149,501$33,92820,4914,174$58,593$90,908$149,5012017$209,203136,225$72,97863,895693$9,776$3,5346,2422016$80,08062,7241,0612,606$146,471$28,66825,6765,208$59,552$86,919$146,4712016$174,206114,284$59,92253,520(118)$6,284$3,388$3,896
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Required: How much of Gallo Factory is financed by creditors at the end of December 2017? Evaluate the change from 2016 to 2017.
Definitions:
Rare Disease
A condition affecting a small percentage of the population, often complex and poorly understood, and sometimes lacking effective treatment.
Statistical Test
A methodological procedure used to evaluate the probability of a hypothesis about a dataset being true.
Infant Health
The area of medical study and practice focusing on the physical and mental well-being of babies from birth to 1 year of age.
Policy
A deliberate system of guidelines, principles, or rules designed to guide decisions and achieve rational outcomes within an organization or governmental body.