home / study / business / finance / questions and answers / 3. as of december 31, 2015, michael corp's current ... Question 3. As of December 31, 2015, Michael Corp's current assets were $2,000,000. Its current liabilities were $2,000,000. Its sales for 2

3. As of December 31, 2015, Michael Corp's current assets were $2,000,000. Its current liabilities were $2,000,000. Its sales for 2015 were $50,000,000. As of December 31, 2016, Michael Corp's current assets were $3,000,000. Its current liabilities were $3,000,000. Its sales for 2016 were $65,000,000. Management has asked you to comment on these numbers.