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Given the following information, complete the balance sheet shown next. (All sales are on credit. All calculations assume a 365-day year. The payables period is
Given the following information, complete the balance sheet shown next. (All sales are on credit. All calculations assume a 365-day year. The payables period is based on cost of goods sold.) Note: Round your answers to the nearest whole dollar. You are trying to prepare financial statements for Bartlett Pickle Company, but seem to be missing its balance sheet. You have Bartlett's income statement, which shows sales last year were $530 million with a gross profit margin of 50 percent. You also know that credit sales equaled three-quarters of Bartlett's total revenues last year. In addition, Bartlett had a collection period of 56 days, a payables period of 36 days, and an inventory turnover of 10 times based on cost of goods sold. Calculate Bartlett's year-ending balance for accounts receivable, inventory, and accounts payable. Answer the following questions based on the information in the table. Assume a tax rate of 30 percent. For simplicity, assume that the companies have no other liabilities other than the debt shown. (All dollars are in millions.) a. Calculate each company's ROE, ROA, and ROIC. Note: Round your answers to 1 decimal place
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