Question
Adison company is preparing its year-end financials. It must prepare an income statement, balance sheet, and calculate some key ratios. The company has issued $2,451
Adison company is preparing its year-end financials. It must prepare an income statement, balance sheet, and calculate some key ratios. The company has issued $2,451 of preferred stock and $29,640 common stock at par. In addition, there is retained earinings of 91,800. Adison company has accruals of $16,800 and accounts payable of $30,000.It has $8,005 in the bank, and total current assets of $159,565. It also has accumulated depreciation of 50,000. Company experienced $720,000 in sales with a gross profitt margin of 38.7. It turned inventory six times with a 350 day work year. Its current ratio is 2.35, total asset turnover of 2.81 and an average collection period of 31 days. Adison company's debt ratio is 49.4. Assume Adision company's tax rate is 21% and it has interest expense of $2,829.Round all dollar calculations to the nearest dollar. (Please how how to calculate.)!!!
Question: How much marketable securities, accounts recieveable, inventory, gross fixed assets, net fixed assets, tatol assets, note payable, total current liabilities, long term debts, and total liabiliities does the company have?
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