Question: Please help me solve this question. I need your help. Here is the complete question below. 2. value: 10.00 points The following information is available

Please help me solve this question. I need your help. Here is the complete question below.

Please help me solve this question. I need your help. Here is

2. value: 10.00 points The following information is available about the company: a. All sales during the year were on account. b. There was no change in the number of shares of common stock outstanding during the year. c. The interest expense on the income statement relates to the bonds payable; the amount of bonds outstanding did not change during the year. d. Selected balances at the beginning of the current year were: Accounts receivable $ 320,000 Inventory 35 430,000 Total assets $1 50,000 e. Selected nancial ratios computed from the statements below for the current year are: Earnings per share $ 1.83 Debt-toequity ratio 0.900 Accounts receivable tumover 20.0 Current ratio 3.00 Return on total assets 8% Times interest earned ratio 4.0 Acid-test ratio 1.17 Inventory turnover 9.0 Required: Compute the missing amounts on the company's nancial statements. (Hint. What's the difference between the acid-test ratio and the current ratio?) (Do not round intermediate calculations.) Cost of goods sold ' Gross margin 'Selling and administrative expenses Net operating Income Interest expense _B,1 000 Net income before taxes _ Income taxes (40%) _ Current assets: Cash Accounts receivable. net Inventory Total current assets Plant and equipment. not Total assets Liabilities: Current liabilities $ 200, 000 Bonds payable, 10% Total liabilities Stockholders' equity: Common stock, $2.60 par value Retained eamings Total stockholders' equity Total liabilities and stockholders equity

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