The Shannon Corporation has credit sales of $750,000. Given the following ratios, fill in the balance sheet

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The Shannon Corporation has credit sales of $750,000. Given the following ratios, fill in the balance sheet at the bottom.

Total assets turnover .................................... 2.5 times

Cash to total assets ...................................... 2.0 percent

Accounts receivable turnover ....................... 10.0 times

Inventory turnover ........................................ 15.0 times

Current ratio ................................................. 2.0 times

Debt to total assets ...................................... 45.0 percent

The Shannon Corporation has credit sales of $750,000. Given the

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Foundations of Financial Management

ISBN: 978-0077454432

14th edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

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Question Posted: Jul 13, 2016 03:37 AM

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The Shannon Corporation has credit sales of $750,000. Given the following ratios, fill in the balance sheet

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SHANNON CORPORATION Balance Sheet 201x Assets Liabilities and Stockholders' Equity Cash Accounts receivabe.... nventory Current debt Long-term debt otal debt Total current assets Net worth Fixed assets Total debt and Total assets stockholders' equity.

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Shannon Corporation Solution Total assets 300000 Fixed Assets 169000 Credit Sales 750000 sa...View the full answer

Foundations of Financial Management

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