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Analyze the information contained in the company's balance sheet and income statement to answer the following questions:
• Are the assets included under the company's current assets listed in the proper order? Explain your answer.• How are the company's assets classified?• What are cash equivalents?• What are the company's total current liabilities at the end of its most recent annual reporting period?• What are the company's total current liabilities at the end of the previous annual reporting period?• Considering all the information you have gathered, why might this information be important to potential creditors, investors, and employees?
Summarize the analysis in a 700- to 1,050-word paper in a Microsoft Word document.
Include a copy of the company's balance sheet and income statement.
Format your paper and presentation consistent with APA guidelines.
Emmy Corporation had starting raw materials inventory of $7,000. During the period, the company purchased $47,000 of raw materials on account.
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