Question
The following information is available on the XYZ Corporation: XYZ Corporation Balance Sheet at December 31, 2018 (in millions) ASSETS LIABILITIES AND EQUITY Cash &
The following information is available on the XYZ Corporation: XYZ Corporation Balance Sheet at December 31, 2018 (in millions) ASSETS LIABILITIES AND EQUITY Cash & Cash Eq. $900 Accounts payable ?? Accounts receivable ?? Bank loans 800 Inventory ?? Accruals 600 Current Assets ?? Current Liabilities ?? Long-term debt ?? Fixed Assets @ cost ?? Total Liabilities ?? Accum. depreciation 3,800 Net Fixed Assets ?? Common stocks ?? Retained earnings 300 Total Equity ?? Total Assets ?? Total Liability and equity ?? Income Statement for 2018 (in millions) Other Information Net Sales ?? Credit sales percentage 90% Cost of goods sold 8,000 Gross profit margin 20% Gross Profit ?? Average combined tax rate 35% SG&A expenses ?? Interest coverage ratio 5.00 EBIT ?? Quick ratio 1.125 Interest expense 200 AR turnover 5.00 EBT ?? Inventory turnover 4.00 Tax ?? ROI 8.00% EAT ?? Debt to equity ratio 1.60 Complete the balance sheet and income statement for XYZ Corporation.
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