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(10) Consider the following: Assets $13, 125 18,450 55,950 2,250 1,575 Santos Tier I Center Balance Sheet December 31, 20- Liabilities Current liabilities: Accounts payable
(10) Consider the following: Assets $13, 125 18,450 55,950 2,250 1,575 Santos Tier I Center Balance Sheet December 31, 20- Liabilities Current liabilities: Accounts payable $10,500 Sales tax payable B25 Wages payable 300 Total current liab. Noncurrent liab.: $ 91,350 Mortgage payable Current assets: Cash Accounts receivable Merch. inventory Supplies Prepaid insurance Total current assets Equipment: Furniture and fixtures Less accum. depr. Total equipment $ 11, 625 13,650 Total liabilities $ 25,275 $21,000 16,000) Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity 40,000 41,075 15,00D Total assets S106,360. S106350 Additional information: Total stockholders' equity, January 1, 20-- Accounts receivable, January 1, 20- Net income for 20- Merchandise inventory, January 1, 20- Net credit sales for 20- $ 71,250 19,650 21,600 60,750 105,000 Required: You have been provided with the balance sheet for Santos Tier I Center. Calculate the following ratios and round answers to two decimal places. a. Current ratio for 20- to 1 b. Return on stockholders' equity for 20- c. Accounts receivable turnover and average number of days the times receivables were on the books for 20- days d. Ratio of liabilities to stockholders' equity for 20- to 1
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