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Common-sire and trend percents for Rustynail Companys sales, cost of goods sold, and expenses follow. Common-Size Percents T
(2) Compute the acid-test ratio for the year ended 2015, 2014, and 2013. Acid-Test Ratio Choose Numerator: 1 Choose Denominat
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Answer #1

1.

2015 2014 2013
Sales $104,400 ($100,000*104.4%) $103,200 ($100,000*103.2%) $100,000
Cost of goods sold 65,895 ($57,300*115%) 62,858 ($57,300*109.7%) 57,300
Total expenses 14,932 ($14,100*105.9%) 14,241 ($14,100*101%) 14,100
Net income $23,573 $26,101 $28,600

Net income decreased in this three year period.

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