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You are trying to prepare nancial statements for Bartlett Pickle Company, but seem to be missing its balance sheet. You have Bartlett s income statement,
You are trying to prepare nancial statements for Bartlett Pickle Company, but seem to be missing its balance sheet. You have Bartletts income statement, which shows sales last year were $ million with a gross prot margin of percent. You also know that credit sales equaled threequarters of Bartletts total revenues last year. In addition, Bartlett had a collection period of days, a payables period of days, and an inventory turnover of times based on cost of goods sold. Calculate Bartletts yearending balance for accounts receivable, inventory, and accounts payable.
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