Question
Financial information of Moonta Corporation is given the following: Total Sales on Account900 000 Total Cash30 000 Total non-current asset370 000 Net Profit Margin10% Inventory
Financial information of Moonta Corporation is given the following:
Total Sales on Account900 000
Total Cash30 000
Total non-current asset370 000
Net Profit Margin10%
Inventory Turnover4 times
Debt ratio40%
No. of days collection period73 days (based on 365 days)
Gross profit margin40%
Current ratio3:0:1
Requirement: Make an income statement and balance sheet with complete details and show all necessary computations
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Here are the income statement and balance sheet for Moonta Corporation with calculations Income Stat...
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Financial Reporting Financial Statement Analysis and Valuation
Authors: Clyde P. Stickney
6th edition
324302959, 978-0324302967, 324302967, 978-0324302950
