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Presented below are the comparative balance sheets of Big Apple, Inc., at December 31, 2017, and 2016. Sales for the year ended December 31, 2017, totaled $1,780,000.Required:
A) Calculate ROI for 2017.B) Calculate ROE for 2017.C) Calculate working capital at December 31, 2017.D) Calculate the current ratio at December 31, 2017.E) Calculate the acid-test ratio at December 31, 2017.
Skilled Worker
An employee who possesses specialized knowledge or abilities, typically acquired through training or experience.
Labour Cost
The total expense incurred for hiring employees, including wages, benefits, and taxes.
Labour Efficiency Variance
A cost management tool used to measure the difference between the actual labor hours used and the standard labor hours expected to produce a certain level of output.
Direct Labour Standard
A benchmark for the amount of work (measured in labor hours or costs) expected to produce a certain quantity of goods.
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