Natalie has several questions. Answer the following questions for Natalie.(a) What type of information does each financial statement provide?(b) What financial statements would Natalie need in order to evaluate whether Biscuitswill have enough cash to meet its current liabilities? Explain what to look for.(c) What financial statement would Natalie need in order to evaluate whether Biscuitswill be able to survive over a long period of time? Explain what to look for.(d) What financial statement would Natalie need in order to evaluate Biscuits’ profitability?Explain what to look for.(e) Where can Natalie find out whether Biscuits has outstanding debt? How can Nataliedetermine whether Biscuit would be able to meet its interest and debt payments onany debts it has?(f) How could Natalie determine whether Biscuits pays a dividend?(g) In deciding whether to go ahead with this opportunity, are there other areas ofconcern that she should be aware of?

Eliminating entries (including goodwill impairment) and worksheets for various years on january 1, 2013, porter company purchased an 80% interest in the capital stock of salem company for$850,000. at that time, salem company had capital stock of $550,000 and retained earnings of $80,000.differences between the fair value and the book value of the identifiable assets of salem company were asfollows: fair value in excess of book valueequipment$130,000land65,000inventory40,000the book values of all other assets and liabilities of salem company were equal to their fair values onjanuary 1, 2013. the equipment had a remaining life of five years on january 1, 2013. the inventory was sold in2013.salem company’s net income and dividends declared in 2013 and 2014 were as follows: year 2013 net income of $100,000; dividends declared of $25,000year 2014 net income of $110,000; dividends declared of $35,000required: a.prepare a computation and allocation schedule for the difference between book value of equity acquired andthe value implied by the purchase price.b.present the eliminating/adjusting entries needed on the consolidated worksheet for the year endeddecember 31, 2013. (it is not necessary to prepare the worksheet.)lo6lo1

Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?

On january 1, eastern college received $1,350,000 from its students for the spring semester that it recorded in unearned tuition and fees. the term spans four months beginning on january 2 and the college spreads the revenue evenly over the months of the term. assuming the college prepares adjustments monthly, what amount of tuition revenue should the college recognize on february 28?