Complete the following balance sheet using the information given. Round balances to the nearest dollar. Net...
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Complete the following balance sheet using the information given. Round balances to the nearest dollar. Net Profit Margin = 12.675% Return on Equity = 15% Quick Ratio = 1.2 Return on Total Assets = 10% Fixed Asset Turnover Ratio = 1.6 times Current Ratio = 2 times Days Sales Outstanding in Receivables = 45 BALANCE SHEET Cash Accounts Receivable Inventory Total Current Assets Net Fixed Assets Total Assets Accounts Payable Notes Payable Total Current Liab.. Long-Term Debt Total Liabilities Common Stock Retained Earnings Total Equity Total Liabilities & Equity $1,425 $5,000 INCOME STATEMENT Sales Cost of Goods Sold Gross Margin Operating Expenses EBIT Interest Expense EBT Taxes Net Income $20,000 -10,000 10,000 6,000 4,000 -100 3.900 -1,365 $2,535 Complete the following balance sheet using the information given. Round balances to the nearest dollar. Net Profit Margin = 12.675% Return on Equity = 15% Quick Ratio = 1.2 Return on Total Assets = 10% Fixed Asset Turnover Ratio = 1.6 times Current Ratio = 2 times Days Sales Outstanding in Receivables = 45 BALANCE SHEET Cash Accounts Receivable Inventory Total Current Assets Net Fixed Assets Total Assets Accounts Payable Notes Payable Total Current Liab.. Long-Term Debt Total Liabilities Common Stock Retained Earnings Total Equity Total Liabilities & Equity $1,425 $5,000 INCOME STATEMENT Sales Cost of Goods Sold Gross Margin Operating Expenses EBIT Interest Expense EBT Taxes Net Income $20,000 -10,000 10,000 6,000 4,000 -100 3.900 -1,365 $2,535
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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