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Calculate the following ratios for Lake of Egypt Marina, Inc. as of year-end 2015. (Use sales when computing the inventory turnover and use total equity
Calculate the following ratios for Lake of Egypt Marina, Inc. as of year-end 2015. (Use sales when computing the inventory turnover and use total equity when computing the equity multiplier. Round your answers to 2 decimal places. Use 365 days a year.)
LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars) 2015 2014 2015 2014 Assets Current assets: Liabilities and Equity Current liabilities: Cash and marketable securities $ 9660 Accounts receivable Inventory Accrued wages and taxes Accounts payable Notes payable $48 S60 72 78 56 64 248 156 Total Long term debt: $432 282 $ 168 210 180 Total 252 Preferred stock (6 million shares) 6 48 326 Fixed assets $ 416 330 Stockholders' equity: Gross plant and equipment Less: Depreciation 6 48 48 Common stock and paid-in surplus (48 million shares) Retained earnings 156 Net plant and equipment Other long-term assets $328 282 40 36 $368 318 600 Total Total $380 S210 Total assets $ 800 Total liabilities and equity $ 800 S600Step by Step Solution
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