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The following information is available on the XYZ Corporation: Balance Sheet at December 31, 2017 (in millions) ASSETS Cash & Cash Eq. $800 Accounts receivable
The following information is available on the XYZ Corporation: Balance Sheet at December 31, 2017 (in millions) ASSETS Cash & Cash Eq. $800 Accounts receivable Inventory Current Assets Fixed Assets @ cost Accum. depreciation 2,500 Net Fixed Assets Total Assets LIABILITIES AND EQUITY Accounts payable Bank loans 800 Accruals 500 Current Liabilities Long-term debt Total Liabilities Common stocks Retained earnings 500 Total Equity Total Liability and equity Income Statement for 2017 (in millions) Net Sales Cost of goods sold 6,300 Gross Profit SG&A expenses EBIT Interest expense 200 EBT Tax EAT Other Information: Credit sales percentage 80% Gross profit margin 30% Average combined tax rate 35% Interest coverage ratio 8.50 Quick ratio 1.20 1212AR turnover 4.50 Inventory turnover 4.20 ROI 16.25% Debt to equity ratio 1.40 Complete the balance sheet and income statement for XYZ Corporation
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