Home / Questions / Use the following information to constuct a balance sheet and then answer the following qu
Use the following information to constuct a balance sheet and then answer the following questions below.
Gross profit margin = 70%
Inventory turnover ratio = 5 times
Sales = $4,000
Net profit margin = 5%
Average collection period = 45 days
Return on equity = 50%
Return on assets = 20%
Cash = $75
Current ratio = 2.50 times
Accounts payable days = 30 days
Note: Of total sales, 80 percent are on credit and the remainder are cash sales. Assume a 360-day year.
Please answer ALL of the following 9 questions below. Find the values of each.
1. Cash _______
2. Accounts receivable _______
3. Inventory _______
4. Net fixed assets _______
5. Total assets _______
6. Notes Payable _______
7. Accounts Payable _______
8. Long-term Debt _____
9. Equity ______
Dec 04 2019 Read more Less More
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