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  3. a) complete the balance sheet and sales informatio

a) Complete the balance Sheet and Sales information in the table that follows for Johnson...

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Finance

a) Complete the balance Sheet and Sales information in the table that follows for Johnson Company using the following information (all sales are on credit):

Debt Ratio - 60%

Inventory Turnover Ratio- 5.0 times

Net Profit Margin -10%

Total asset Turnover-2.0 times

Quick ratio- 1.0 times

Average Collection period- 45 days

Gross profit margin- 25%

Return on Equity- 50%

b)

b) Fill in Johnsons net sales and cost of goods sold on the lines below

Net Sales _______

Cost of goods Sold _______

image
Balance sheet Cash ? Account Payable ? Account Receivables ? Long term debt $180,000 Inventories ? Common Stock ? Fixed Assets ? Retained Earnings 200,000 Total Assets $1,000,000 Total Liabilities and S.E

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