Cadux Candy Company's income statement for the year ended December 31, 2011, reported interest expense of $2

Question:

Cadux Candy Company's income statement for the year ended December 31, 2011, reported interest expense of $2 million and income tax expense of $12 million. Current assets listed in its balance sheet include cash, accounts receivable, and inventories. Property, plant, and equipment is the company's only noncurrent asset. Financial ratios for 2011 are listed below. Profitability and turnover ratios with balance sheet items in the denominator were calculated using year-end balances rather than averages.

Required:
Prepare a December 31, 2011, balance sheet for the Cadux CandyCompany.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Financial Ratios
The term is enough to curl one's hair, conjuring up those complex problems we encountered in high school math that left many of us babbling and frustrated. But when it comes to investing, that need not be the case. In fact, there are ratios that,...