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Use the following industry average ratios to construct a pro-forma statement of Financial Position (Balance...

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Finance

Use the following industry average ratios to construct a pro-forma statement of Financial Position (Balance Sheet) for Lascu Distribution Ltd.
Total Asset Turnover 2 times
Average Collection Period (Assume 365 days) 9 days
Fixed Asset Turnover 5 times
Inventory Turnover 3 times
Current Ratio 2 times
Sales (all credit) $4.0 million
Cost of Sales 75% of sales
Debt Ratio 50%

You will need to find

  1. Total Assets 5. Cash
  2. Net Fixed Assets 6. Current Liabilities
  3. Inventory 7. Common Equity
  4. Accounts Receivables 8. Long-term debt 9. Total debt & Equity

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