1. You are provided with the following information about the Heartland Hotel Corporation. Calculate the...
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Accounting
1. You are provided with the following information about the Heartland Hotel Corporation. Calculate the balance sheet highlighted in blue below for the end of the year for Heartland Hotel Corporation. Current Ratio 1.2 Current liabilities $100,000 Debt/Equity Ratio Acid Test Ratio Inventory turnover ratio 4 times Cost of goods sold $160,000 Accounts receivable $ 40,000 Net income $90,000 Return on assets 10% 2.0 Liabilities 1) Assets Cash Accts Receivable Inventory Total Current Assets 2) 3) 4) Total Current Liabilities $100,000 8) Total Non-Current Assets 5) Total Non-Current Liabilities 7) Total Liabilities Owner's Equity |9) Total Assets Total L&OE 10) * Notes. A. Assume that average inventory is the same as end of year inventory. B. "Quick" assets only include cash and accounts receivable. 16) 2. Please provide your work how you calculate the numbers as below: 1) Cash = 2) Accounts Receivable = 3) Inventory = 4) Total Current Assets = 5) Total Non-Current Assets = 6) Total Assets = 7) Total Non-Current Liabilities = 8) Total Liabilities = 9) Owner's Equity = 10) Total L&OE =
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