Question: Computing Missing Information Using Given Financial Ratio Presented below is an incomplete statement of comprehensive income and incomplete comparative balance sheets. Compute the missing information



Computing Missing Information Using Given Financial Ratio Presented below is an incomplete statement of comprehensive income and incomplete comparative balance sheets. Compute the missing information given the ratios below. (Note: Start with one ratio and derive as much information as possible from it before trying another ration amounts under the ratio used to find the information.) Additional information: 1. The accounts receivable turnover for 2022 is 7.5 times. 2. All sales are on account. 3. The profit margin for 2022 is 15%. 4. Return on assets is 20% for 2022 . 5. The current ratio on December 31,2022 , is 2.5. 6. The inventory turnover for 2022 is 3 times. Bunny Inc. Statement of Comprehensive Income For the Year Ended December 31, 2022 \begin{tabular}{l} \hline Net sales \\ Cost of goods sold \\ Gross profit \\ Operating expenses \\ Income from operations \\ Interest expense \\ Income before income taxes \end{tabular} Bunny Inc. Comparative Balance Sheets December 31 Liabilities and Equity
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