The following information is available on the ABC Corporation Balance Sheet as of December 31, 20X6 (in thousands) Cash marketable securities $900 Accounts payable Accounts receivable Bank loan 1300 Inventories Accruals 600 Current assets Current Liabilities Long term debt Total Debt Fixed assets Costt Common Stock Cum Depreciation 3600 Retained Earnings 300 Net Fixed Assets Total Equity Total assets Total Liab equity Income Statement for 20X6 (in thousands) Other Information Net sales of Credit Sales 85 00 Cost of goods sold 9600 Gross Profit Margin 20 00 Gross Profit Average Tax Rate 30 00 SG A expenses Interest Coverage Ratio 10 to 1 EBIT Quick Ratio 1 00 Interest expenses 140 AR Turnover Ratio 6 00 EBT Inventory Turnover Ratio 4 80 Taxes Return on Investment 14 00 Profit after taxes 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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Posted on Oct 04, 2024

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)
Cash & marketable securities	$900	Accounts payable
Accounts receivable		Bank loan		1300
Inventories		Accruals		600
Current assets		Current Liabilities
			Long-term debt
			Total Debt
Fixed assets@Costt			Common Stock
Cum. Depreciation	3600		Retained Earnings	300
Net Fixed Assets			Total Equity
Total assets			Total Liab. & equity

Income Statement for 20X6 (in thousands)			Other Information
Net sales		% of Credit Sales		85.00%
Cost of goods sold	9600	Gross Profit Margin		20.00%
Gross Profit		Average Tax Rate		30.00%
SG&A expenses		Interest Coverage Ratio		10 to 1
EBIT		Quick Ratio		1.00
Interest expenses	140	AR Turnover Ratio		6.00
EBT		Inventory Turnover Ratio		4.80
Taxes		Return on Investment		14..00%
Profit after taxes		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 "$".)