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Please help me construct this financial statement from the information given Thanks for your expert help! 8. Financial statements and ratios Aa Aa An analyst
Please help me construct this financial statement from the information given
Thanks for your expert help!
8. Financial statements and ratios Aa Aa An analyst is conducting a financial analysis of Harmony Inc. She doesn't have Harmony's full financial statements, but she knows the firm had accounts payable of $100 million and accounts recelvable of $200 million. Harmony generated sales of $2,000 million and had cost of goods sold of $1,600 million, resulting in net income of $100 million. She also has the following financial ratio information: Current ratio Inventory turnover ratio Fixed asset turnover ratio ROE ROA 1.25 times 16 times 4 times 25.0% 10.0% The ratios calculated above use end-of-year balance sheet values, rather than average values. Complete this balance sheet based on the ratios and income statement data. All figures are in millions of dollars Harmony Inc.: December 31 Balance Sheet Cash Accounts recelvable Inventories Current assets Accounts payable Notes payable Current liabilities Long-term debt Total liabilities Total common equity Total liabilities and equity $ 100 $ 200 Net fixed assets Total assets |Step by Step Solution
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