Cadux Candy Company’s income statement for the year ended December 31, 2024, 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 inventory. Property, plant, and equipment is the company’s only noncurrent asset. Financial ratios for 2024 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, 2024, balance sheet for the Cadux Candy Company.

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Debt to equity ratio Current ratio Acid-test ratio Times interest earned ratio Return on assets Return on equity 1.0 2.0 1.0 17 times 10% 20% (continued)