Question
The Griggs Corporation has total sales of $2,400,000. All sales are on credit. Given the following ratios, fill in the halance sheet below. Assume 360
The Griggs Corporation has total sales of $2,400,000. All sales are on credit. Given the following ratios, fill in the halance sheet below. Assume 360 days in a year. Round your answers to the nearest dollar. (21 points) Total assets turnover................ Long term debt to total debt ... Average collection period ......... Inventory turnover........ Current ratio ........... Total debt to total assets........... 2.4 times 40% 45 days 12.0 times 2.0 times 50.0% Balance Sheet 2022 ASSELS Liabilities and Stockheiders' Equity Cast ............ Cument debt ........ ACC outs receivable Inventory ......... Total current assets Fixed assets ... Lonz-term debi. Total debt.......... Stockholders' Equty............... Ictal debt and stockholders equity Total assels Coov vour completed balance sheet in the Dive bock BONUS - NO PARTIAL CREDIT. WRITE ANSWERS IN THE BLUE BOOK. State and explain two issues you learned about the FDIC taking over SVB in recent weeks. (2 points) & If a company has no debt what would be its TIE ratio if its EBIT is $1.5 million? (2 points) c) Explain the terms of trade: 1/5, net 20. (2 points)
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