Question
Complete the following balance sheet for the Range Company using the following information: Debt to Assets = 60 percent Quick Ratio = 1.1 Asset Turnover
Complete the following balance sheet for the Range Company using the following information: Debt to Assets = 60 percent Quick Ratio = 1.1 Asset Turnover = 5x Fixed Asset Turnover = 12.037x Current Ratio = 2 Average Collection Period = 16.837 days
Cash -----------------------------
Receivables --------------------
Inventory --------------------------
Total Current Assets ------------
Plant and Equipment -----------
Total Assets -------------- $325,000
Current liabilities ------------------------
Bonds payable --------------------------
Total liabilities --------------------------
Net worth -------------------------------
Total liabilities and Net worth ---------
Assume all sales are on credit and a 360-day year
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