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please help me figure out the answers to the balance sheet question including the calculations! thanks Balance Sheet Cole Eagan Enterprises December 31, 2013 Assets
please help me figure out the answers to the balance sheet question including the calculations! thanks
Balance Sheet Cole Eagan Enterprises December 31, 2013 Assets Cash . . . . . . . . . . . . . . . . . . . ................ Liabilities $4,500 Account payable . . . . . . . . . $10,000 ............ Accounts receivable . . . . . . . . . . . . . . ......... Notes payable . . . . . . . . . . . ............ Inventory . . . . . . . . . . . . . . . ................. Accruals . . . . . . . . . . . . . . . . ............ Total current assets Total current liabilities Net Fixed Assets . . . . . . . . . . . . . . . . . . ........ Long-Term Debt . . . . . . . . . . . . . . . . . . . ... Stockholders' Equity . . . . . . ............ Total assets Information (2013 values) 1. Sales totaled $110,000 Total liabilities and Stockholders' Equity 1,000 2. The gross profit margin was 25 percent. 3. Inventory turnover was 3.0. 4. There are 360 days in the year. 5. The average collection period was 65 days. 6. The current ratio was 2.40. 7. The total asset turnover was 1.13. 8. The debt ratio was 53.8 percent. Notes payable for CEE in 2013 was ________. (See Table above) Accounts receivable for CEE in 2013 was ________. Net fixed assets for CEE in 2013 were ________. Long-term debt for CEE in 2013 was ________Step by Step Solution
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