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please be quick thankyou! Presented below is an incomplete income statement and incomplete comparative statements of financial position of Splish ASA Additional information: 1. The
please be quick thankyou!
Presented below is an incomplete income statement and incomplete comparative statements of financial position of Splish ASA Additional information: 1. The accounts receivable turnover for 2020 is 8 times. 2. All sales are on account. 3. The proft margin for 2020 is 14.5%. 4. Return on assets is 20% for 2020 . 5. The current ratio on December 31,2020 , is 2.5. 6. The inventory turnover for 2020 is 4.9 times. Compute the missing information given the ratios above. (Note: Start with one ratio and derive as much information as possible f before trying another ratio. List all missing amounts under the ratio used to find the information.) Splish ASA Statements of Financial Position Equity and Liabilities Share capital-ordinary, 1 par Retained earnings Total equity Long-term notes payable 4,284,000472,500504,0004,158,0004,252,500 Current liabilities Total liabilities Total equity and liabilities Step by Step Solution
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