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Constructing a pro forma balance sheet) Use the following industry average ratios, Distributors, Inc. C to construct a pro forma balance sheet, for Mendo

Constructing a pro forma balance sheet) Use the following industry average ratios, Distributors, Inc. C to construct a pro forma balance sheet, for Mendo

FINANCIAL ACCOUNTING
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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financial management ch 17 hw

please show work, thank you.

question 3

 

(Constructing a pro forma balance sheet) Use the following industry average ratios, Distributors, Inc. D The company's cost of goods sold is $2129412. (Round to the nearest dollar.) to construct a pro forma balance sheet, for Mendoza
Transcribed Image Text:(Constructing a pro forma balance sheet) Use the following industry average ratios, Distributors, Inc. D The company's cost of goods sold is $2129412. (Round to the nearest dollar.) to construct a pro forma balance sheet, for Mendoza
Data table Total asset turnover Average collection period (assume a 365-day year) Fixed asset turnover Inventory turnover (based on cost of goods sold) Current ratio 1.7 times 9.2 days 5.3 times 3.2 times 1.9 times $3.62 million 79% of sales 55% Sales (all on credit) Cost of goods sold Debt ratio (Click on the icon in order to copy its contents into a spreadsheet.) I
Transcribed Image Text:Data table Total asset turnover Average collection period (assume a 365-day year) Fixed asset turnover Inventory turnover (based on cost of goods sold) Current ratio 1.7 times 9.2 days 5.3 times 3.2 times 1.9 times $3.62 million 79% of sales 55% Sales (all on credit) Cost of goods sold Debt ratio (Click on the icon in order to copy its contents into a spreadsheet.) I
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