how did you get the current assets amount of the problem Using these data, construct the December 31, Year 5 balance sheet for your analysis. Operating expense) excluding taxes and

how did you get the current assets amount of the problem Using these data, construct the December 31, Year 5 balance sheet for your analysis.  Operating expense) excluding taxes and cost of Goods sold for year 5) are $180,000. The tax rate is 40%.  Assume a 360-day year in ratio computation. No cash dividends are paid either year 4 or year 5. Current  assets consist of cash, Accounts receivable and inventories. Transcribed Image Text: $98,000
18 days
Retained earnings, December 31, Year 4
Gross profit margin ratio….
Days’ sales in receivables
Shareholders’ equity to total debt
Sales (all on credit) …
Common stock: $15 par value; 10,000 shares issued
and outstanding: issued at $21 per share
25%
4 to 1
Acid-test ratio .
2.5 to 1
$920,000
Noncurrent assets
$280,000
45 days
Days’ sales in inventory

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