Question

You are given the following selected financial information for The Blatz Corporation.

Income Statement Balance Sheet

COGS $750 Cash $250

Net Income $160 Net Fixed

Assets $850

Ratios

ROS 10%

Current Ratio 2.3

Inventory Turnover 6.0

ACP 45 days

Debt Ratio 49.12% [the key treats this as long term debt to equity]

Calculate accounts receivable, inventory, current assets, current liabilities, long-term debt, equity, ROA, and ROE.