Question: Financial Data for Fedrekoko, Inc. (Unless otherwise noted, all data is for December 31, 2020) Assume a 360-day year and assume that the only accounts
Financial Data for Fedrekoko, Inc. (Unless otherwise noted, all data is for December 31, 2020) Assume a 360-day year and assume that the only accounts on the balance sheet are those listed below. Fill in this chart with the data provided and then answer questions 48, 49 and 50. Cash __________ Notes payable __________ Accounts receivable __________ Accounts payable __________ Inventory __________ Accruals __________ Net fixed assets __________ Long-term debt __________ Total assets __________ Common stock ($0.50par value) __________ Capital surplus __________ Retained earnings __________ Total liab. & equity __________ 48. Cash = ____________. 49. Long-term debt = ____________. 50. Total assets =____________. Number of shares outstanding 155,000 Average collection period (days) 25 Sales $600,000 Accounts payable days 30 Gross profit margin 35% Capital surplus $138,500 Inventory turnover ratio 5 Total dividends paid $4,000 Cash $50,000 Accruals $22,500 Net profit margin 20% Quick ratio 1.4 Return on assets 15.0% Debt ratio 35% Percent of sales for cash 10%
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