Problem 2. Write your answers on a separate sheet of paper. 3 points each. Items 1-4...

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Problem 2. Write your answers on a separate sheet of paper. 3 points each. Items 1-4 are based on the following information. Mendez Corporation discloses the following in relation to its financial statements for 2012. Cash Plant and equipment 37,500 441,000 Total Assets Income tax payable Common stock 648,000 37,500 450,000 450,000 Gross margin for 2012 Accounts receivable, inventory ? accounts payable, long-term debt, and retained earnings Total liabilities stockholder's equity divided by 0.8 Inventory based on sales and 15 times ending inventory Inventory turnover based on cost 10.5 times of goods sold and ending inventory Current ratio at year end 1.5 to 1 Problem 2. Write your answers on a separate sheet of paper. 3 points each. Items 1-4 are based on the following information. Mendez Corporation discloses the following in relation to its financial statements for 2012. Cash Plant and equipment 37,500 441,000 Total Assets Income tax payable Common stock 648,000 37,500 450,000 450,000 Gross margin for 2012 Accounts receivable, inventory ? accounts payable, long-term debt, and retained earnings Total liabilities stockholder's equity divided by 0.8 Inventory based on sales and 15 times ending inventory Inventory turnover based on cost 10.5 times of goods sold and ending inventory Current ratio at year end 1.5 to 1