One of your team members is struggling with preparation of balance sheet and he needs your assistance in completing it. He has come up with following missing information. You are required to complete...


One of your team members is struggling with preparation of balance sheet and he needs your assistance in completing it. He has come up with following missing information. You are required to complete this Balance sheet.

































































Assets




Liabilities & Equity



Cash



$    100,000



Current Liabilities



Receivables





Long Term Debt





Inventory





Total Debt



Plant





Common Equity



 $    600,000



Total Assets





Total Claims







Additional Information:


Current Ratio is 2.5 ; Average Collection Period is 54 days ; Total Debt to Total Assets 40 percent ; Total Asset Turnover is 2 ; Inventory Turnover 5.



Jun 04, 2022
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