spreadsheet task #2: proforma statements and ratios

Project Description:

the t & p manufacturing company was very satisfied with their xxx1 performance. the company had only begun operations the prior year, and as a result, sales had been slow. however, things had picked up considerably in xxx1 with sales more than doubling in volume. t & p had changed none of its business practices during the year and had managed to hold its cost of goods sold to 78% of sales. all sales were made on credit, and payment was required within 30 days of the sale. the company paid for its purchases in 30 days and maintained a cash balance of 20% in sales. the only thing that had changed during the year was the company’s inventory turnover, which had jumped from 3 to 6. while t & p’s management was enthusiastic about the company’s increased level of sales, it was concerned about the possible necessity of increasing its short-term debt. in order to assess the situation, the company was in the process of completing the financial statements shown below. (inv. turn = c.o.g.s/inv.). also, use 360-day/year for ratios computation.
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