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Please show step so I can learn USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET TO ANSWER QUESTIONS 28 through 30 Sales Gross profit
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USE THE FOLLOWING INFORMATION TO CONSTRUCT A BALANCE SHEET TO ANSWER QUESTIONS 28 through 30 Sales Gross profit margin Inventory turnover ratio (Cost of goods sold/Inventory) Net profit margin Average collection period Return on equity Accumulated depreciation Return on assets Accounts payable days Notes payable Gross fixed assets Percent of sales on credit (remainder are cash sales) $ 2,000,000 20% 25 4% 45 25% $ 75,000 12.5% 18 $18,000 $ 400,000 80% NOTE: Assume a 360 day year for all ratios, etcStep by Step Solution
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