Han's Harps has the following information in its financial statements. Sales were all on credit for...

 

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Han's Harps has the following information in its financial statements. Sales were all on credit for the year and equaled $24 million. 2 times Sales to total assets Total debt to total assets Current ratio Inventory turnover Average collection period Fixed asset turnover 50% Cash Accounts receivable Inventory 2.4 times 9 times 18 days Fill in the balance sheet below. Current debt Long-term debt Total debt Total current assets Equity Fixed assets Total assets 6 times Total debt and equity Han's Harps has the following information in its financial statements. Sales were all on credit for the year and equaled $24 million. 2 times Sales to total assets Total debt to total assets Current ratio Inventory turnover Average collection period Fixed asset turnover 50% Cash Accounts receivable Inventory 2.4 times 9 times 18 days Fill in the balance sheet below. Current debt Long-term debt Total debt Total current assets Equity Fixed assets Total assets 6 times Total debt and equity

Answer rating: 100% (QA)

Sales 24 million Calculation of total assets Sales to total assets 2 SalesTotal assets 2 24 millionT... View the full answer