2. Based on the information given below prepare the company's balance sheet for 2022 (30 points)....

 

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2. Based on the information given below prepare the company's balance sheet for 2022 (30 points). Information (2022 values) 1. Sales totaled $110,000 2. The gross profit margin was 25 percent. 3. Inventory turnover was 3.0. 4. There are 360 days in the year. 5. The average collection period was 65 days. 6. The current ratio was 2.40. 7. The total asset turnover was 1.13. 8. The debt ratio was 53.8 percent. Balance Sheet Cole Eagen Enterprises December 31, 2022 Accounts Payable $4,500 Notes Payable Cash Accounts Receivable Inventory Total Current Assets Net Fixed Assets Total Assets Accruals Total Current Liabilities Long Term Debt Stockholders' Equity Total Liabilities and S.E. $10,000 1,000 3 2. Based on the information given below prepare the company's balance sheet for 2022 (30 points). Information (2022 values) 1. Sales totaled $110,000 2. The gross profit margin was 25 percent. 3. Inventory turnover was 3.0. 4. There are 360 days in the year. 5. The average collection period was 65 days. 6. The current ratio was 2.40. 7. The total asset turnover was 1.13. 8. The debt ratio was 53.8 percent. Balance Sheet Cole Eagen Enterprises December 31, 2022 Accounts Payable $4,500 Notes Payable Cash Accounts Receivable Inventory Total Current Assets Net Fixed Assets Total Assets Accruals Total Current Liabilities Long Term Debt Stockholders' Equity Total Liabilities and S.E. $10,000 1,000 3

Answer rating: 100% (QA)

Balance Sheet Cole Eagen Enterprise December 31 2022 Cash 4500 Account Payable 10000 Account Receiva... View the full answer