Question: Use the following industry average ratios, to construct a pro forma balance sheet, for Mendoza Distributors, Inc. The company's cost of goods sold is $
Use the following industry average ratios, to construct a pro forma balance sheet, for Mendoza Distributors, Inc. The company's cost of goods sold is $ nothing. (Round to the nearest dollar.) The company's total assets are $ nothing. (Round to the nearest dollar.) The company's fixed assets are $ nothing. (Round to the nearest dollar.) The company's accounts receivable is $ nothing. (Round to the nearest dollar.) The company's inventories are $ nothing. (Round to the nearest dollar.) The company's current liabilities are $ nothing. (Round to the nearest dollar.) The company's total liabilities are $ nothing. (Round to the nearest dollar.) Complete Mendoza Distributors' balance sheet below:(Round to the nearest dollar.)
| Total asset turnover | 2.4 times |
|
| Average collection period (assume a 365-day year) | 8.5 days | |
| Fixed asset turnover | 5.3 times | |
| Inventory turnover (based on cost of goods sold) | 2.8 times | |
| Current ratio | 2.2 times | |
| Sales (all on credit) | $3.61 million | |
| Cost of goods sold | 79% of sales | |
| Debt ratio | 53% |
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