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Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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The Shannon Corporation deals in textile products. Due to certain reasons the company was closed and records of same are out of access now except given below. Use the given information to make balance sheet for year 2019

  1. Sales                                          $750,000
  2. Total asset turnover                   2.5 times
  3. Cash to total assets                   2.0 percent
  4. Accounts Receivable Turnover  10.0 times
  5. Inventory turnover                     15.0 times
  6. Current Ratio                              2.0 times
  7. Debt to total assets                    45.0 percent

 

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