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please do ot ASAP Income statement Net sales (all credit) $10,000,000 Balance Sheet Assets Cash and marketable securities $600,000 (3,000,000) Accounts receivable Inventories Prepaid expenses
please do ot ASAP
Income statement Net sales (all credit) $10,000,000 Balance Sheet Assets Cash and marketable securities $600,000 (3,000,000) Accounts receivable Inventories Prepaid expenses Total current assets Fixed as ts Less: accum. depreciation. 900,000 1,500,000 75,000 $3,075,000 Less: Cost of goods sold Selling and administrative expense Depreciation expense interest expense Earnings before taxes Income taxes Net income Common stock shares Joutstanding Market price (2,000,000) (250,000) (200,000) 4,550,000 (1,820,000) $2,730,000 8,000,000 |(2,075,000) Net fixed assets Total assets $5.925.000 $9,000,000 1,000,000 30.00 Liabilities Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Owner's equity (1 million shares of common stock outstanding) Total liabilities and owner's Jequity $800,000 700,000 50,000 $1,550,000 2,500,000 4,950,000 $9,000,000 Based on the information in the above table the total asset turnover ratio is Multiple Choice Step by Step Solution
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