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Question Nos. 47-50 are based on the following information: Return on sales Gross profit Receivables TO 10% 35% 6x Inventory turn over 5x Current ratio

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Question Nos. 47-50 are based on the following information: Return on sales Gross profit Receivables TO 10% 35% 6x Inventory turn over 5x Current ratio 4:1 Debt ratio 30% Sales Cash Fixed Assets P1,000 30 670 Prepare the following using the information provided: 47-48. Income statement 49-50. Balance sheet

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