Question: Complete the Balance Sheet below based on the given information Cash $30,000 Marketable securities $25,000 Accounts Receivable $225,000.00 Inventory $1,825,000.00 Total current Assets $2,105,000.00 Net

Complete the Balance Sheet below based on the given information Cash $30,000 Marketable securities $25,000 Accounts Receivable $225,000.00 Inventory $1,825,000.00 Total current Assets $2,105,000.00 Net Fixed Assets Total Assets Accounts Payable $120,000 Short-term Notes Payable Accrued Liabilities $20,000 Total Current Liabilities Long-Term Debt Total Debt Stockholder's Equity $600,000 Total Liabilites and Equity Assumptions: Sales = $1,825,000 Gross profit margin = 30% Inventory Turnover = 7.0 365 days per year DSO = 45 days Current ratio = 1.48 Total Asset Turnover = 1.25

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!