Question
Please help Isa and Shane fill-in-the blanks to their balance sheet and income statement given the following ratios: Debt ratio 50% Quick ratio 2 (Current
Please help Isa and Shane fill-in-the blanks to their balance sheet and income statement given the following ratios: Debt ratio 50% Quick ratio 2 (Current Assets -Inventory)/Current Liabilities Total Asset Turns 3 Net Sales/Assets DSO's 36.5 AR/AverageDaily Sales Gross Profit Margin 50% Inventory Turns 10 COGS/Inventory Balance Sheet ($M) Cash Accounts Payable Accounts Receivable Long-term Debt $1,000 Inventories Common Stock Fixed Assets Retained Earnings $500 Total Assets $4,000 Total Liabilities & Equity Income Statement ($M) Sales Cost of Goods Sold
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