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USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW TO ANSWER QUESTIONS 31 through 34 Number of shares outstanding15,000 Sales Gross Inventory turnover
USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW TO ANSWER QUESTIONS 31 through 34 Number of shares outstanding15,000 Sales Gross Inventory turnover ratio Notes payable Net profit Return on assets Average collection period (days) Accounts payable days Retained earnings (2010) Dividend Accruals Current ratio Debt ratio $200,000 20% $23,700 80% ,000 in t ratio 8,000 15% 896 1.5 40% in Note: Of total sales, 60 percent are on credit and the remainder are cash sales. Assume a 360-day year. All data in the table above, unless otherwise stated, is for the year 2015. Hodun, Inc. Balance Sheet for the Year Ending December 31,2015 Cash Accounts receivable Inventory Net fixed assets Notes payable Accounts payable Accruals Long-term debt Common stock ($2 par value) Capital surplus Retained eamings Total assets Total liab. &equity 31. Cash- 32. Long-term debt- 33. Total assets- 34. Capital surplus
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