e. Samy Ent. has asked you to calculate the company's current ratio for 2022. All...
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| e. | Samy Ent. has asked you to calculate the company's current ratio for 2022. All you have is a partial balance sheet and some assumptions. | |||||||||||||
| Using the information provided, to answer below questions. | ||||||||||||||
| Gross profit margin = 50% | ||||||||||||||
| Inventory turnover (COGS/Inv) = 5 | Current Ratio = Current Assets / Current Liabilities | |||||||||||||
| 2022 sales = RM3,000 | Current Ratio = RM400 million / RM250 million | |||||||||||||
| Current Ratio = 1.6 | ||||||||||||||
| Assets | RM (in mil) | Liabilities & Equity | RM (in mil) | |||||||||||
| Cash | 60 | Accounts payable | $50 | |||||||||||
| AR | 40 | Accruals | 200 | |||||||||||
| Inventory | 300 | Long-term debt | $400 | |||||||||||
| Net fixed assets | 500 | Equity | 250 | |||||||||||
| Total assets | 900 | Total liab. & equity | 900 | |||||||||||
| Required: | ||||||||||||||
| a. | Calculate Samy's current ratio for 2022. | |||||||||||||
| b. | Complete the above balance sheet. |
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