North Star had the following data (thousands of dollars):Cash and equivalents100.00Fixed assets283.50Sales 1,000.00Net income50.00Current liabilities105.50Notes payable to bank20.00Current ratio3.00DSO40.55 daysROE12.00%North Star has no preferred stock—only common equity, current liabilities, and long-term debt.Find North Star’s (7) inventory.Do not round intermediate calculations; round final answers to two decimal places.

Ratio analysis is a method of measuring the financial position of the organization. It includes…

Answered: North Star had the following data…

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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North Star had the following data (thousands of dollars):

Cash and equivalents	100.00
Fixed assets	283.50
Sales	1,000.00
Net income	50.00
Current liabilities	105.50
Notes payable to bank	20.00
Current ratio	3.00
DSO	40.55 days
ROE	12.00%

North Star has no preferred stock—only common equity, current liabilities, and long-term debt.

Find North Star’s (7) inventory.

Do not round intermediate calculations; round final answers to two decimal places.

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