Given the following information: Total asset turnover 2.0 times Accounts receivable turnover 25 times Fixed...
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Accounting
Given the following information: Total asset turnover 2.0 times Accounts receivable turnover 25 times Fixed asset turnover 5 times Inventory turnover (based on cost of goods sold) 5 times Current ratio 2 Sales (all on credit) $5,000,000 Cost of goods sold 70% of sales Debt ratio 60% Calculate: Cash Accounts receivable Inventories Net fixed assets Total assets Current liabilities Long-term debt Total liabilities Common equity Total liabilities and common equity
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