The Sharpe Company reports the following information for 2012:
Definitions:
Trade Credit
A financial agreement in which a customer is allowed to purchase goods or services and pay the supplier at a later scheduled date, effectively extending interest-free credit.
Current Liabilities
Short-term financial obligations a company is required to pay within one year or within the normal operating cycle.
Current Assets
Assets that are expected to be converted into cash, sold, or consumed within a year.
Return On Equity
A measure of financial performance calculated by dividing net income by shareholders' equity, indicating how effectively a company uses invested funds to generate profit.
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