Use the financial data and ratios listed below to fill in the balance sheet for Year...
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Use the financial data and ratios listed below to fill in the balance sheet for Year 2 for Birmingham Company. Number of shares outstanding 41,000 Average collection period (days) 30 Sales $840,000 Accounts payable days 60 Gross profit margin 20% Retained earnings (Dec 31, 2020) $28,000 Inventory turnover ratio 8 Dividends paid in 2021 $80,000 Notes payable $18,000 Accruals $84,000 Net profit margin 8% Net fixed assets 654000 Return on assets 8.0% Debt ratio 60% Percent of sales on credit 90% Par value per share $0.50 Cash Accounts receivable Inventory Current assets Net fixed assets Total assets Birmingham Company Balance Sheet for the Year Ending December 31, 2021 Notes payable Accounts payable Accruals Current liabilities Long-term debt Total liabilities Common stock Capital surplus Retained earnings Total liab. & equity According to the Balance Sheet you created, what did Birmingham Company record as Cash on its 2021 balance sheet? Use the financial data and ratios listed below to fill in the balance sheet for Year 2 for Birmingham Company. Number of shares outstanding 41,000 Average collection period (days) 30 Sales $840,000 Accounts payable days 60 Gross profit margin 20% Retained earnings (Dec 31, 2020) $28,000 Inventory turnover ratio 8 Dividends paid in 2021 $80,000 Notes payable $18,000 Accruals $84,000 Net profit margin 8% Net fixed assets 654000 Return on assets 8.0% Debt ratio 60% Percent of sales on credit 90% Par value per share $0.50 Cash Accounts receivable Inventory Current assets Net fixed assets Total assets Birmingham Company Balance Sheet for the Year Ending December 31, 2021 Notes payable Accounts payable Accruals Current liabilities Long-term debt Total liabilities Common stock Capital surplus Retained earnings Total liab. & equity According to the Balance Sheet you created, what did Birmingham Company record as Cash on its 2021 balance sheet?
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