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problem1. Balance Sheet Analysis Complete the balance sheet and sales information by using the following financial data:

a) Debt-to-assets ratio: 55%

b) Current ratio: 2.9 xs

c) Total assets turnover: 1.7 xs

d) Days sales outstanding:

e) 32 days’ Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%

f) Inventory turnover ratio: 3 xs

g) Calculation is based on a 365-day year.

h) Balance Sheet Cash $ Accounts payable $ Accounts receivable $

i) Long-term debt 46,000

j) Inventories $

k) Common stock $

l) Fixed assets $

m) Retained earnings 64,000

n) Total assets $200,000

o) Total liabilities and equity $

p) Sales $

q) Cost of goods sold $

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M93904

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