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We are given the following information for the Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $
We are given the following information for the Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $ 2,064,000 156,000 944,000 793,000 1.05 times 2.10 times 50 % 4 times Current assets are composed of cash, marketable securities, accounts receivable, and inventory. Calculate the following balance sheet items. (Do not round intermediate calculations. Round your final answers to the nearest whole number.) a. Accounts receivable b. Marketable securities C. Fixed assets d. Long-term debt
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