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The following ratios have been computed for Concord Company for 2022. Profit margin ratio 20% Current ratio 2.5:1 Times interest earned 12 times Debt
The following ratios have been computed for Concord Company for 2022. Profit margin ratio 20% Current ratio 2.5:1 Times interest earned 12 times Debt to assets ratio 24 % Accounts receivable turnover 5 times Use the above ratios and information from the Concord Company financial statements to fill in the missing information on the financial statements. The 2022 financial statements for Concord Company with missing information follows: CONCORD COMPANY Comparative Balance Sheet December 31, Assets Cash 2022 $32,000 2021 $44,800
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