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Please help me to answer, thank you! The Dec. 31,2020 balance sheet of Sto. Tomas Company is presented below. These are the only accounts in
Please help me to answer, thank you! The Dec. 31,2020 balance sheet of Sto. Tomas Company is presented below. These are the only accounts in the balance sheet. Amounts indicated by a (?) can be calculated from the additional information given: Additional Information: 1. Current ratio at year-end. 2. Total liabilities divided by total stockholders' equity...... 1.5:1 3. Inventory turnover based on sales and ending inventory..... 15 times 4. Inventory turnover based on cost of sales and ending inventory. 5. Gross profit for 2020 . 10.50 times .P1,260,000 REQUIRED: 1. Complete the balance sheet; show all supporting computations to get credit
Please help me to answer, thank you!
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