Question: We are given the following information for the Coleman Machine Tools Corporation. Sales (credit) . . . . . . . . . . .
We are given the following information for the Coleman Machine Tools Corporation. Sales (credit) . . . . . . . . . . . . . . . $7,200,000 Cash . . . . . . . . . . . . . . . . . . . . . 300,000 Inventory . . . . . . . . . . . . . . . . . . 2,150,000 Current liabilities . . . . . . . . . . . . 1,400,000 Asset turnover . . . . . . . . . . . . . . 1.20 times Current ratio . . . . . . . . . . . . . . . 2.50 times Debt-to-assets ratio . . . . . . . . . . 40% Receivables turnover . . . . . . . . . 8 times Current assets are composed of cash, marketable securities, accounts receivable, and inventory. Calculate the following balance sheet items. a. Accounts receivable. b. Marketable securities. c. Fixed assets. d. Long-term debt
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