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betterway betterway
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7 years ago
Complete the balance sheet for General Aviation, Inc. based on the following financial data.
   Balance Sheet
   General Aviation, Inc.
   December 31, 2013


Key Financial Data (2005)
1. Sales totaled $720,000.
2. The gross profit margin was 38.7 percent.
3. Inventory turned 6 times.
4. There are 360 days in a year.
5. The average collection period was 31 days.
6. The current ratio was 2.35.
7. The total asset turnover was 2.81.
8. The debt ratio was 49.4 percent.
9. Total current assets equal $159,565.
Textbook 
Principles of Managerial Finance

Principles of Managerial Finance


Edition: 14th
Authors:
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alovelyalovely
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