Compute the missing amounts, and complete the statements of the Cyrus Co

(Hint: Complete the Income Statement first)

CYRUS COMPANY

BALANCE SHEET

AS OF DECEMBER 31, 2017

Cash ? Current Liabilities ?

Accounts Receivable (Net) ? 8.75% Long-Term Bonds Payable 2,000,000

Inventory ? Common Stock ?

PPE (Net) ? Retained Earnings 550,000

Total Assets 4,500,000 Total Liabilities and Stockholders' Equity ?

CYRUS COMPANY

INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER 31, 2017

Net Sales ?

Cost of Goods Sold ?

Gross Profit ?

SGA Expenses ?

Income from Operations ?

Interest Expense on Bonds Payable ?

Income before Income Taxes ?

Income Tax Expense ?

Net Income 335,000

The following information is available about Cyrus Company's financial statements:

1. The Accounts Receivable Collection Period (DRO) is 48.5 Days

2. The Days Inventory Outstanding (DIO) is 51.3 Days

3. The Current Ratio for the firm is 1.94

4. The Net Profit Margin for the firm is 13.8%

5. The Operating Profit Margin for the firm is 26.51%

6. The Gross Profit Margin for the firm is 38.5%

7. The Return on Common Equity for the firm is 17.2%

8. The Income Tax Rate for the firm is 28.5%