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Use the following information to answer the next 3 questions. Balance Sheet 12/31/2017 Current Assets...

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Use the following information to answer the next 3 questions. Balance Sheet 12/31/2017 Current Assets Cash Accounts Receivable Inventory $10,400 12,800 14,600 $37,800 Total Current Assets 180,000 25,000 Plant & Equipment Less: Accumulated depreciation Net Plant and Equipment $155,000 Total Assets $192,800 Liabilities Accounts Payable s 4,200 Wages Payable Notes Payable Taxes Payable 3,100 5,400 1,800 $14,500 otal Current Liabilities ong Term Debt Total Liabilities $66,300 Equity Common Stock 61,400 65,100 $126,500 Retained Earnings Total Equity Total Liabilities&Equity 2017 Sales: $185,000 Expected 2018 Sales: $210,000 $192,800 Dividend payout ratio: 40 percent Net Profit margin 7.7 percent Expected Additional Fixed Asset Investment: $61,000. Minimum Current Ratio: 2.2, Maximum Debt/Asset Ratio 0.45

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