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7-14 Complete the balance sheet and sales information in the table that follows for Isberg Industries using the following financial data: Debt ratio: 50% Balance Sheet Quick ratio: 0.80x Total assets turnover: 1.5 x Days sales outstanding: 36.0 days Gross profit margin on sales: (Sales Inventory turnover ratio: 5.0x - Cost of goods sold)/Sales = 25% %3D Balance Sheet Accounts payable Cash $60,000 Accounts receivable Long-term debt Common stock Inventories Fixed assets Retained earnings $97,500 Total liabilities and equity Total assets $300,000 Sales Cost of goods sold

7-14 Complete the balance sheet and sales information in the table that follows for Isberg Industries using the following financial data: Debt ratio: 50% Balance Sheet Quick ratio: 0.80x Total assets turnover: 1.5 x Days sales outstanding: 36.0 days Gross profit margin on sales: (Sales Inventory turnover ratio: 5.0x - Cost of goods sold)/Sales = 25% %3D Balance Sheet Accounts payable Cash $60,000 Accounts receivable Long-term debt Common stock Inventories Fixed assets Retained earnings $97,500 Total liabilities and equity Total assets $300,000 Sales Cost of goods sold

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Complete the balance sheet and sales information below for Iceberg Industries using the following financial data:

7-14 Complete the balance sheet and sales information in the table that follows for Isberg Industries using the following financial data: Debt ratio: 50% Balance Sheet Quick ratio: 0.80x Total assets turnover: 1.5 x Days sales outstanding: 36.0 days Gross profit margin on sales: (Sales Inventory turnover ratio: 5.0x - Cost of goods sold)/Sales = 25% %3D Balance Sheet Accounts payable Cash $60,000 Accounts receivable Long-term debt Common stock Inventories Fixed assets Retained earnings $97,500 Total liabilities and equity Total assets $300,000 Sales Cost of goods sold
Transcribed Image Text:7-14 Complete the balance sheet and sales information in the table that follows for Isberg Industries using the following financial data: Debt ratio: 50% Balance Sheet Quick ratio: 0.80x Total assets turnover: 1.5 x Days sales outstanding: 36.0 days Gross profit margin on sales: (Sales Inventory turnover ratio: 5.0x - Cost of goods sold)/Sales = 25% %3D Balance Sheet Accounts payable Cash $60,000 Accounts receivable Long-term debt Common stock Inventories Fixed assets Retained earnings $97,500 Total liabilities and equity Total assets $300,000 Sales Cost of goods sold
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