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Presented below is the information for Wildhorse Corp. 1. Assume average balances equal ending balances for the purpose of this exercise. 2. The receivables turnover

Presented below is the information for Wildhorse Corp.

1. Assume average balances equal ending balances for the purpose of this exercise.
2. The receivables turnover ratio is 12.1 times and net credit sales are $1,948,100.
3. The inventory turnover ratio is 5 times and cost of goods sold is $1,265,000.
4. The current ratio is 2:1.
5. The debt to total assets ratio is 50%.

Calculate the missing information using the ratios and complete the balance sheet for Wildhorse Corp. (Hint: Start with one ratio and get as much information as possible from it before trying another ratio. You may not be able to calculate the missing amounts in the same sequence as they are presented below.)

WILDHORSE CORP. Balance Sheet December 31, 2021
Assets
Current assets
Cash $19,770
Accounts receivable

Inventory

Total current assets 433,770
Non-current assets 435,170
Total assets $

Liabilities and Shareholders Equity
Current liabilities $

Non-current liabilities

Total liabilities

Shareholders equity

Total liabilities and shareholders equity $

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