Prepare an income statement and a balance sheet from the following scrambled list of items. What is

Question:

Prepare an income statement and a balance sheet from the following scrambled list of items. What is the firm's net working capital and debt ratio?

Sales ..................................................... $550,000

Accumulated depreciation ............................. 190,000

Cash ............................................................... ?

Cost of goods sold ...................................... 320,000

Accounts receivable ...................................... 73,000

Depreciation expense ..................................... 38,000

Accounts payable ......................................... 65,000

Interest expense ........................................... 26,000

Short-term notes payable ................................. 29,000

Income taxes ............................................... 59,850

Inventories ................................................. 47,000

Marketing, general, and administrative expenses ... 45,000

Gross fixed assets ...................................... 648,000

Long-term debt ......................................... 360,000

Common stock ......................................... 120,000

Other assets .............................................. 15,000

Retained earnings ...................................... 138,500

In addition, the firm has 10,000 shares outstanding and paid $15,000 in common stock dividends during the year?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... 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...