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.


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  • CreatedJune 24, 2013
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