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1. Determine the missing values based on the provided information: Current Ratio = 4.8571429 Debt Ratio = 0.3306836248 Asset...

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Finance

1. Determine the missing values based on theprovided information:

  • Current Ratio = 4.8571429
  • Debt Ratio = 0.3306836248
  • Asset Turnover = 1.3879173291
  • Gross Profit Margin = 64%
  • Net Profit Margin = 20%
  • Inventory Turnover = 6.5475 ? A/R Turnover = 10.9125
  • Total Assets = $629,000
  • Long-term Debt = $180,000
  • Common Shares = $41,000
  • Cash =     
  • A/R =     
  • Inventory =    
  • PP&E =     
  • A/P =     
  • R/E =     
  • Sales =     
  • COGS =     
  • SG&A =     
  • Net Income =    

Assume that there are no other asset, liability or equityaccounts besides the ones listed above. Also assume 5% interestrate on long-term debt and 20% tax rate to prepare amulti-step income statement, a statement of retained earnings and aclassified balance sheet.

Answer & Explanation Solved by verified expert
4.3 Ratings (663 Votes)
asset turnover ratio sales total assets 13879173291 total sales629000 total sales 13879173291629000 873000 Gross profit ratio gross profitsales 64 gross profit873000 gross profit 87300064 558720 cost of goods sold salesgross profit 873000558720 314280 debt ratio total of liabilitiestotal assets 3306836 total of liabilities629000 total of liabilities 3306836629000 208000 total of shareholders equity total of assetstotal of liabilities    See Answer
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1. Determine the missing values based on theprovided information:Current Ratio = 4.8571429Debt Ratio = 0.3306836248Asset Turnover = 1.3879173291Gross Profit Margin = 64%Net Profit Margin = 20%Inventory Turnover = 6.5475 ? A/R Turnover = 10.9125Total Assets = $629,000Long-term Debt = $180,000Common Shares = $41,000Cash =     A/R =     Inventory =    PP&E =     A/P =     R/E =     Sales =     COGS =     SG&A =     Net Income =    Assume that there are no other asset, liability or equityaccounts besides the ones listed above. Also assume 5% interestrate on long-term debt and 20% tax rate to prepare amulti-step income statement, a statement of retained earnings and aclassified balance sheet.

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