b. Complete the income statement and balance sheet for a Company by using following Additional Information Current ratio. 3:1Depreciation. $ 500Net Profit margin. 7 %Total Liabilities to Total Equity 1:1 Average collection period 45 days Inventory Turnover ratio. 3:1No of Days in a year 360 days b. Complete the income statement and balance sheet for a Company by using following additionalinformation:Additional InformationCurrent ratio3:1$ 500DepreciationNet Profit marginTotal Liabilities to Total EquityAverage collection periodInventory Turnover ratioNo of Days in a year7 %1:145 days3:1360 daysIncome statement for the Year 20XX (Inthousands)Sales$ 100,000Cost of Goods soldGross profitSelling??andadministrative?еxpensesInterest expense4,000Profit before tax?Taxes (30% rate)Profit aîter taxes?

Financial Ratio:- It is a ratio which helps in analyzing the performance of a company and helps in…

Complete the income statement and balance sheet for a Company by using following Additional Information Current ratio. 3:1 Depreciation. $ 500 Net Profit margin. 7 % Total Liabilities to Total Equity 1:1 Average collection period 45 days Inventory Turnover ratio. 3:1 No of Days in a year 360 days

Complete the income statement and balance sheet for a Company by using following Additional Information Current ratio. 3:1 Depreciation. $ 500 Net Profit margin. 7 % Total Liabilities to Total Equity 1:1 Average collection period 45 days Inventory Turnover ratio. 3:1 No of Days in a year 360 days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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