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The Shannon Corporation has sales of $750,000, all on credit and COGS of $500,000. Total assets turnover 2.5 times Cash to total assets 2.0 %
The Shannon Corporation has sales of $750,000, all on credit and COGS of $500,000.
| Total assets turnover | 2.5 | times |
| Cash to total assets | 2.0 | % |
| Accounts receivable turnover | 10.0 | times |
| Inventory turnover (based on COGS) | 10.0 | times |
| Current ratio | 2.0 | times |
| Debt to total assets | 45.0 | % |
Based on the information given above. Complete the balance sheet.
| SHANNON CORPORATION Balance Sheet Dec. 31, 20XX | |||||
| Assets | Liabilities and Shareholders Equity | ||||
| Cash | $ | Current debt | $ | ||
| Accounts receivable | Long-term debt | ||||
| Inventory | |||||
| Total current assets | Total debt | ||||
| Capital assets | Equity | ||||
| Total assets | $ | Total debt and shareholders' equity | $ | ||
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Authors: Jocelyn Pixley
2nd Edition
1107633370, 978-1107633377
