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borteleto borteleto
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Posts: 2477
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6 years ago
Complete the following balance sheet using the information given. Round account balances to the nearest dollar.

Balance SheetIncome Statement

CashSales (All Credit)$20,000
Accounts receivableCost of goods sold10,000
InventoryOperating expenses6,000
Net fixed assetsInterest expense100
Total assetsTaxes1,365
Net income$2,535
Accounts payable
Short-term notes payable$1,425 Ratios:
Long-term debtProfit Margin =12.675%
Common stock$5,000 Return on Equity =15%
Retained earningsQuick Ratio =1.2
Total Liabilities and equityReturn on Total Assets =10%
Fixed Asset Turnover =1.6
Current Ratio =2
Days Sales Outstanding =45
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DeanaRayDeanaRay
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