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Problem 2) Complete the following balance sheet using the following information provided: (12) S7 Accounts payable 6.00 Long-term debt 100,000 41333333 41633333 Cash Accounts receivable
Problem 2) Complete the following balance sheet using the following information provided: (12) S7 Accounts payable 6.00 Long-term debt 100,000 41333333 41633333 Cash Accounts receivable Inventory Current assets Net fixed assets Total -625CD. Total liabilities Common equity Total $2,100,000 1.500,000 $2,100,000 Current ratio 6.0 Inventory tumover -8.0 Debt ratio = 20% Total asset turnover = 1.0 Average collection period = 30 days Gross profit margin = 15%
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