Practice Set At the end of 2018, the Zedo Company has $100,000 in accumulated depreciation and $120,000 in retained earnings. Sales Notes Payable Tax Rate 2019 $600,000 45,000 40% 2020 $700,000 75,000 40%
Practice Set At the end of 2018, the Zedo Company has $100,000 in accumulated depreciation and $120,000 in retained earnings. Sales Notes Payable Tax Rate 2019 $600,000 45,000 40% 2020 $700,000 75,000 40%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Calculate for 2020: inventory turnover accruals debt ratio common stock net fixed assets turnover

Transcribed Image Text:Practice Set
At the end of 2018, the Zedo Company has $100,000 in accumulated
depreciation and $120,000 in retained earnings.
Sales
Notes Payable
Tax Rate
Gross Fixed Assets
Total Current Liabilities
Interest Expense
Cash
ATTACHMENT A
Financial Statements
Accounts Payable
Total Current Assets
Total Liabilities
Net Income
Accounts Receivable
Dividends
Operating Expenses before
Depreciation/Amortization
2019
$600,000
45,000
40%
$800,000
330,000
30,000
20,000
190,000
340,000
400,000
24,000
140,000
14,000
70% of sales
2020
$700,000
75,000
40%
$1,000,000
290,000
40,000
30,000
160,000
320,000
380,000
48,000
160,000
18,000
70% of sales
• Complete the Income Statement and Balance Sheet
Complete the Statement of Cash Flows
.
• Address the ratios on the following pages
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