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Do it fast. The following information is available about the company All sales during the year were on account b. There was no change in
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The following information is available about the company All sales during the year were on account b. There was no change in the number of shares of common stock outstanding during the year c. The interest expense on the income statement relates to the bonds payable the amount of bonds outstanding did not change during the year d Selected balances at the beginning of the current year were Accounts receivable Inventory Total assets $ 150.000 $ 270,000 $1.665.000 e Selected financial ratios computed from the statements below for the current year are Earnings pet share Debt to equity ratio Accounts receivable turnover Current ratio Return on total assets Times interesteamed ratio Acid-test ratio Inventory turnover $ 270 0 800 15.0 2.50 10% 6.9 1.18 7.0 Required: ) (Hint What's the difference between the acid-test ratio and the current ratio?) (Do not round intermediate calculations.) $ 3.000000 Pepper Industries Income Stement For the Year Ended March 31 Salos Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interstopen Ne income before tras com (40%) Notcom 45.000 Pepper Industries Balance Sheet March 31 Current assets Cash Accounts receivable net Inventory Total current assets Plant and equipment net Total assets Liabilities Current liabilities Bonds payable, 10% Total liabilities Stockholders' equity Common stock, $2.50 par value Retained earnings Total stockholders' equity Total liabilities and stockholders equity $ 250 000Step by Step Solution
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