Question Completion Status: QUESTION 13 MEGAFRAME COMPUTER COMPANY Balance Sheet As of December 31, 2009 ASSETS Cash Accounts Receivable Inventory Net Plant and Equipment Total Assets $ 50,000 70.000 110,000 220.000 $450,000 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts Payable Accrued Expenses $ 70,000 50.000 Long-Term Debt 130,000 Common Stock 70.000 Paid-In Capital 40.000 Retained Earnings 90.000 Total Liabilities and Stockholders' Equity $450,000 MEGAFRAME COMPUTER COMPANY Income Statement For the Year Ended December 31, 2009 Click Save and Submit to save and submit. Click Save All Answers to save all answers Long-Term Debt Common Stock Paid-In Capital Retained Earnings Total Liabilities and Stockholders' Equity 150.000 70,000 40.000 90.000 $450,000 MEGAFRAME COMPUTER COMPANY Income Statement For the Year Ended December 31, 2009 Sales (all on credit) Cost of Goods Sold Gross Profit Sales and Administrative Expense Depreciation Operating Profit Interest Expense Profit before Taxes Taxes (30) Net Income Refer to the figure above. Megaframe's quick ratio is 2:1 1:1 1.5:1 $ 875,000 600.000 275.000 30.000 55.000 190.000 25.000 165,000 49.500 $ 115.500 12:1 QUESTION 14 Click Save and Submit to save and submit. Click Save All Answers to save all answers