Use the following data to build an income statement and balance sheet, using cash as a...

 

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Use the following data to build an income statement and balance sheet, using cash as a plug value to ensure the balance sheet balances. Sales COGS Tax Rate Accounts Receivable (as % of sales) PPE Current Liabilities (as % of sales) Common Stock $50,000 50% 35% 20% $50,000 100% $50,000 A start-up company manufacturing fair-trade jewelry is studying its cash cycle. Use the following end of year values (you don't need to take averages) from this company to calculate (a) the number of days between receiving raw materials to make the jewelry and collecting cash from customers. (b) the number of days the company has to pay off its inventory. Inventory Accounts receivable Accounts payable Net sales COGS $3,000 $500 $1,000 $5,000 $6,000 Use the following data to build an income statement and balance sheet, using cash as a plug value to ensure the balance sheet balances. Sales COGS Tax Rate Accounts Receivable (as % of sales) PPE Current Liabilities (as % of sales) Common Stock $50,000 50% 35% 20% $50,000 100% $50,000 A start-up company manufacturing fair-trade jewelry is studying its cash cycle. Use the following end of year values (you don't need to take averages) from this company to calculate (a) the number of days between receiving raw materials to make the jewelry and collecting cash from customers. (b) the number of days the company has to pay off its inventory. Inventory Accounts receivable Accounts payable Net sales COGS $3,000 $500 $1,000 $5,000 $6,000

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To build an income statement and balance sheet based on the provided data we can follow these steps ... View the full answer