Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are given the following ratios of XYZ Company. Current Ratio = 1 , 4 Quick Ratio = 1 . 0 Cash Ratio = 0

You are given the following ratios of XYZ Company.
Current Ratio =1,4
Quick Ratio =1.0
Cash Ratio =0.2
Average Collection Period =73 days
Inventory Turnover =5.0
Times Interest Earned =8.0
Long-term Debt ratio =0.4
The company paid $50 million as dividends. They did not issue any new stocks during the year.
a. Fill in the blanks in the income statement and balance sheet of the company this year.
\table[[BALANCE SHEET],[(Figures in Millions of Dollars)],[Assets,This Year,Last Year],[Cash and marketable Securities,?,20],[Receivables,?,34],[Inventories,?,26],[Total current assets,?,80],[Net property, plant, and equipment,?,25],[Total assets,?,105],[Liabilities and Shareholders' Equity,,],[Accounts Payable,25,20],[Notes Payable,30,35],[Total Current Liabilities,?,55],[Long-term debt,?,20],[Shareholders' Equity,,30],[Tolal Liabilities and Shareholders' Equity,115,105]]
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Financial Management

Authors: Eugene F. Brigham, Joel F. Houston

Concise 6th Edition

324664559, 978-0324664553

More Books