You must show the financial statement in all its parts including header, dollar signs and double...

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Finance

You must show the financial statement in all its parts includingheader, dollar signs and double line in the totals. Points will besubtracted from the exercises if these parts are not completedproperly.
7-14 Complete the balance sheet and sales information in thetable that follows for Isberg Industries using the followingfinanacial data:
Debt ratio: 50%
Quick ratio: 0.80x
Total assets turnover: 1.5x
Days sales outstanding: 36.0 days
Gross profit margin on sales: ( Sales - cost of goods sold) /Sales = 25%
inventory turnover ratio: 5.0x
Balance sheet:
Cash _________ Accounts payable _
Accounts receivable _ Long -term debt $60,000
Fixed assets _ Common stock _
Total assets $ 300,000 Retained earnings $97,500
sales __ Total liabilities and equity_
Cost of goods sold _______

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You must show the financial statement in all its parts includingheader, dollar signs and double line in the totals. Points will besubtracted from the exercises if these parts are not completedproperly.7-14 Complete the balance sheet and sales information in thetable that follows for Isberg Industries using the followingfinanacial data:Debt ratio: 50%Quick ratio: 0.80xTotal assets turnover: 1.5xDays sales outstanding: 36.0 daysGross profit margin on sales: ( Sales - cost of goods sold) /Sales = 25%inventory turnover ratio: 5.0xBalance sheet:Cash _______________ Accounts payable _____________Accounts receivable _______________ Long -term debt $60,000Fixed assets _______________ Common stock _____________Total assets $ 300,000 Retained earnings $97,500sales ______________ Total liabilities and equity_____________Cost of goods sold _____________