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In 2019, Amalgamated Hat Company was mindful of bringing their inventory number back in line to their 2017 number. In order to do this, the company invested in additional sales people to drive sales, this resulted in their operating expenses to go up 10% over 2018, but they were able to increase both their retail sales and their corporate sales by 5% each over 2018numbers. In addition, the owner was feeling very confident in the company, so he increased contributed capital to $1,200,000. To keep the balance sheet equal, that additional $300,000 should be applied to the asset cash account.
Problem 1: Create a new sheet for Year 2019 (current sheet is 2018), by copying the sheet the formulas will be protected, to see how the following ratios are impacted year over year. Don't forget to adjust inventory and accounts payable to 2017 numbers.
question on 1st july 2013 the foster company sold inventory to the slate corporation for 300000. terms of the sale
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