Question
The following information is available on the ABC Corporation: Balance Sheet as of December 31, 20X6 (in thousands) Cash & marketable securities $900 Accounts payable
The following information is available on the ABC Corporation:
Balance Sheet as of December 31, 20X6 (in thousands) |
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Cash & marketable securities | $900 |
| Accounts payable |
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Accounts receivable |
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| Bank loan | 1300 |
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Inventories |
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| Accruals | 600 |
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Current assets |
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| Current Liabilities |
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| Long-term debt |
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| Total Debt |
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Fixed assets@Costt |
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| Common Stock |
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Cum. Depreciation | 3600 |
| Retained Earnings | 300 | |||
Net Fixed Assets |
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| Total Equity |
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Total assets |
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| Total Liab. & equity |
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Income Statement for 20X6 (in thousands) |
| Other Information | ||||
Net sales |
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| % of Credit Sales | 85.00% | ||
Cost of goods sold | 9600 |
| Gross Profit Margin | 20.00% | ||
Gross Profit |
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| Average Tax Rate | 30.00% | ||
SG&A expenses |
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| Interest Coverage Ratio | 10 to 1 | ||
EBIT |
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| Quick Ratio | 1.00 | ||
Interest expenses | 140 |
| AR Turnover Ratio | 6.00 | ||
EBT |
| Inventory Turnover Ratio | 4.80 | |||
Taxes |
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| Return on Investment | 14..00% | ||
Profit after taxes |
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| Debt to Equity Ratio | 2 to 1 | ||
Assuming that sales and production are steady throughout a 360-day year, complete the balance sheet and income statement for ABC Coporation. (Use the format x,xxx.xx for the answers. Do NOT use "," or "$".)
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