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1. Determine the missing values based on the provided information: Current Ratio = 4.8571429 Debt Ratio = 0.3306836248 Asset Turnover = 1.3879173291 Gross Profit Margin

1. Determine the missing values based on the provided information:

  • Current Ratio = 4.8571429
  • Debt Ratio = 0.3306836248
  • Asset Turnover = 1.3879173291
  • Gross Profit Margin = 64%
  • Net Profit Margin = 20%
  • Inventory Turnover = 6.5475 A/R Turnover = 10.9125
  • Total Assets = $629,000
  • Long-term Debt = $180,000
  • Common Shares = $41,000

  • Cash =
  • A/R =
  • Inventory =
  • PP&E =
  • A/P =
  • R/E =
  • Sales =
  • COGS =
  • SG&A =
  • Net Income =

Assume that there are no other asset, liability or equity accounts besides the ones listed above. Also assume 5% interest rate on long-term debt and 20% tax rate to prepare a multi-step income statement, a statement of retained earnings and a classified balance sheet.

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