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Need to show what was inputed in each cell to get the answer. For example =b5*b6 PROBLEM 14-5 PRO FORMA BALANCE SHEET CONSTRUCTION Use the
Need to show what was inputed in each cell to get the answer. For example =b5*b6
PROBLEM 14-5 PRO FORMA BALANCE SHEET CONSTRUCTION Use the following industry-average ratios to construct a pro forma balance sheet for Phoebe's Cat Foods Inc. DATA Total asset turnover Average collection period (assume 365-day year) Fixed asset turnover Inventory turnover (based on cost of goods sold) Current ratio Sales (all on credit) Cost of goods sold Debt ratio 1.5 times 15.0 days 5.0 times 3.0 times 2.0 times S3,000,000 75% ofsales 50% SOLUTION Cash Accounts receivable Net fixed assets Total assets Current liabilities Long-term debt Total liabilities Common equity Total liabilities and common equity RequirementsStep by Step Solution
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