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how did you get the current assets amount of the problem Using these data, construct the December 31, Year 5 balance sheet for your analysis.  Operating expense) excluding taxes and cost of Goods sold for year 5) are $180,000. The tax rate is 40%.  Assume a 360-day year in ratio computation. No cash dividends are paid either year 4 or year 5. Current  assets consist of cash, Accounts receivable and inventories.

how did you get the current assets amount of the problem Using these data, construct the December 31, Year 5 balance sheet for your analysis.  Operating expense) excluding taxes and cost of Goods sold for year 5) are $180,000. The tax rate is 40%.  Assume a 360-day year in ratio computation. No cash dividends are paid either year 4 or year 5. Current  assets consist of cash, Accounts receivable and inventories.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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how did you get the current assets amount of the problem

Using these data, construct the December 31, Year 5 balance sheet for your analysis.  Operating expense) excluding taxes and cost of Goods sold for year 5) are $180,000. The tax rate is 40%.  Assume a 360-day year in ratio computation. No cash dividends are paid either year 4 or year 5. Current  assets consist of cash, Accounts receivable and inventories.

 

 

$98,000 18 days Retained earnings, December 31, Year 4 Gross profit margin ratio.... Days' sales in receivables Shareholders' equity to total debt Sales (all on credit) ... Common stock: $15 par value; 10,000 shares issued and outstanding: issued at $21 per share 25% 4 to 1 Acid-test ratio . 2.5 to 1 $920,000 Noncurrent assets $280,000 45 days Days' sales in inventory
Transcribed Image Text:$98,000 18 days Retained earnings, December 31, Year 4 Gross profit margin ratio.... Days' sales in receivables Shareholders' equity to total debt Sales (all on credit) ... Common stock: $15 par value; 10,000 shares issued and outstanding: issued at $21 per share 25% 4 to 1 Acid-test ratio . 2.5 to 1 $920,000 Noncurrent assets $280,000 45 days Days' sales in inventory
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