ABC Company's balance sheets for 2027 appear below: Jan. 1 Dec. 31 24,600 98,300 21,700 32,500 177,100 ASSETS: Cash Accounts receivable Inventory Land LIABILITIES + EQUITY: Accounts payable Notes payable Common stock Total Retained earnings Total Sales revenue Cost of goods sold Other expenses Net income 1. 29,400 0 2. 88,600 59,100 177,100 31,200 ? ~.~ ? ABC Company's income statement for 2027 is below: 646, 780 473,750 102,390 70, 640 ? ? 46,300 35,000 ? 63,700 ? Additional information: ABC Company's accounts receivable turnover ratio for 2027 was 7.3. 3. ABC Company's number of days' sales in inventory ratio for 2027 was 29.2 days. The note payable was a bank loan taken out on March 1, 2027. The bank loan is due on November 30, 2028. Calculate ABC Company's working capital at December 31, 2027.
ABC Company's balance sheets for 2027 appear below: Jan. 1 Dec. 31 24,600 98,300 21,700 32,500 177,100 ASSETS: Cash Accounts receivable Inventory Land LIABILITIES + EQUITY: Accounts payable Notes payable Common stock Total Retained earnings Total Sales revenue Cost of goods sold Other expenses Net income 1. 29,400 0 2. 88,600 59,100 177,100 31,200 ? ~.~ ? ABC Company's income statement for 2027 is below: 646, 780 473,750 102,390 70, 640 ? ? 46,300 35,000 ? 63,700 ? Additional information: ABC Company's accounts receivable turnover ratio for 2027 was 7.3. 3. ABC Company's number of days' sales in inventory ratio for 2027 was 29.2 days. The note payable was a bank loan taken out on March 1, 2027. The bank loan is due on November 30, 2028. Calculate ABC Company's working capital at December 31, 2027.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help me with show all calculation thanku
Transcribed Image Text:ABC Company's balance sheets for 2027 appear below:
Jan. 1
Dec. 31
24,600
98,300
21,700
32,500
177,100
ASSETS:
Cash
Accounts receivable
Inventory
Land
LIABILITIES + EQUITY:
Accounts payable
Notes payable
Common stock
Total
Retained earnings
Total
Sales revenue
Cost of goods sold
Other expenses
Net income
1.
29,400
0
2.
88,600
59,100
177,100
31, 200
?
~.~
?
ABC Company's income statement for 2027 is below:
646,780
473, 750
102,390
70, 640
?
?
46,300
35,000
?
63,700
?
Additional information:
ABC Company's accounts receivable turnover
ratio for 2027 was 7.3.
3. ABC Company's number of days' sales in
inventory ratio for 2027 was 29.2 days.
The note payable was a bank loan taken out
on March 1, 2027. The bank loan is due on
November 30, 2028.
Calculate ABC Company's working capital at
December 31, 2027.
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