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anyone who can help with part (b) Q. No. 2 Q2 a) Complete the balance sheet and sales information using the following financial data (3
anyone who can help with part (b)
Q. No. 2 Q2 a) Complete the balance sheet and sales information using the following financial data (3 Marks) Total assets turnover: 1.5X Days sales outstanding 36.5 days (Calculation is based on a 365-day year) Inventory tumover ratio: 5 X Fixed assets tumover 3.0 X Current ratio: 2.0X Gross profit margin on sales (Sales - Cost of goods sold)/Sales=25% Cash Current Liabilities Accounts Receivables Long Term Liabilities Inventories Common Stock Fixed Assets Retained Earnings Total Assets 300000 Total Liabilities and Equity Sales Cost of goods sold 60000 97500 b) Interpret the current ratio, total assets turnover ratio, inventory turnover ratio and profit margin on sales. (2 Marks) Step by Step Solution
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