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Using the following ratios for Ihaveseenthisbefore, Inc, complete the balance sheet and Income statement for 2002 Profit margin 10B Times interest earned (Bef Tax) 6
Using the following ratios for Ihaveseenthisbefore, Inc, complete the balance sheet and Income statement for 2002 Profit margin 10B Times interest earned (Bef Tax) 6 times Receivables turnover 5 times Acid test ratio 3:1 Current ratio 4:1 Debt to total assets ratio 40s Ihave seen this before, Inc. Balance Sheet As of December 31 Assets 2002 2001 Cash 30,000 15,000 Marketable securities 25,000 20,000 Accounts receivable (net) (a 15,000 Inventory (b) 30,000 Property, plant, and equipment (net) 210,000 170,000 Total assets c) $250,000 Liabilities and stockholders' equity Accounts payable (d) 10,000 Short-term notes payable 25,000 15,000 Bonds payable e) 40,000 Common stock 172,000 145,000 Retained earnings 50,000 40,000 Total liabilities and equity (f) $250,000
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