Question 21 Complete the 2015 end of year balance sheet and income statement using the...
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Question 21 Complete the 2015 end of year balance sheet and income statement using the following financial data. Determine inventory at the end of 2015 as a percentage of sales for 2015 (i.e, inventory divided by sales). Current ratio: 2.15x Quick (Acid Test) Ratio: 1.20 Return on Assets: 15.36% Days Sale Outstanding (360-day year): 60 days [AR/(Sales/360)] Total Asses 0.60x Interest rate on long-term debt: 10.0% 2015 Cost of Goods Sold Operating Expenses $125,00000 EBIT $70,000.00 EBT
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