Jade Inc. Balance Sheet As at December 31, 2020 ASSETS Cash Accounts receivable Inventory New...
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Jade Inc. Balance Sheet As at December 31, 2020 ASSETS Cash Accounts receivable Inventory New plant and equipment Total Assets $173,232 53,100 64,350 309,999 $600,681 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable Accrued expenses Notes Payable Long-term debt Common stock Retained earnings Total Liabilities and Shareholders' Equity $78,461 24,000 55,800 180,000 211,000 51,420 $600,681 Jade Inc. Income Statement For the year ended December 31, 2020 Sales (all on credit) Cost of goods sold Gross profit Selling and administrative expense 696,000 502,357 193,643 94,812 Operating profit Interest expense Net income before taxes Taxes (30%) Net income 98,831 69,164 29,667 8,900 20,767 What is Jade Inc's Capital Asset Turnover? A) 1.16x B) 2.25x O C) 3.65x OD) 1.37x
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