Question
Using the following financial data, complete the balance sheet and sales information. All calculations based on a 365 day year. The cells in grey
Using the following financial data, complete the balance sheet and sales information. All calculations based on a 365 day year. The cells in grey should be filled in. Each cell is worth 2 points, 18 points total for this problem. Total assets turnover 1.7x Days sales outstanding 34.5 days 3.65x Inventory turnover ratio Fixed assets turnover 2.5x Current ratio 1.8x Gross profit margin on sales 27% Cash Accounts Receivable Inventories Fixed Assets Total Assets Sales $ 350,000 Balance Sheet Current Liabilities Long-term Debt Common Stock Retained Earnings Total Liabilities and Equity Cost of Goods Sold $ 80,000 $ 97,500
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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