HEM Check my work 8 Pepper Company provided the incomplete financial statements shown below as well as the following additional information: 31 a. Al sales during the year were an 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: 200 Accounts receivable Inventory Total $ 130,000 $ 250.000 $1,600,000 e. Selected financial ratios computed from the statements below for the current year are: Earnings per share Debt-to-equity ratio Mccounts receivable turnover Current ratio Return on total assets Time interest earned ratio Acid-test ratio Inventory turnover $1.29 0.00 16.0 2.30 80 4.00 1.16 8. Required: Compute the missing amounts on the company's financial statements. (Hint: What's the difference between the acid-test ratio and the current ratio?) (Do not round Intermediate calculations.) Check my work Required: Compute the missing amounts on the company's financial statements. (Hint: What's the difference between the acid-test ratio and the current ratio (Do not round intermediate calculations.) 52 $ 2,800.000 Pepper Industries Income Statement For the Year Ended March 31 Sales Cost of goods sold Grons margin Selling and administrative expenses Net operating income Interest expense Not income before taxes Income taxes (30%) Net income 43.000 Pupper Industries Balance Sheet March 21 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, 52.90 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 230,000