7-14 Complete the balance sheet and sales information in the table that follows for Isberg Industries using the following financial data: Debt ratio: 50% Balance Sheet Quick ratio: 0.80x Total assets turnover: 1.5 x Days sales outstanding: 36.0 days Gross profit margin on sales: (Sales Inventory turnover ratio: 5.0x - Cost of goods sold)/Sales = 25% %3D Balance Sheet Accounts payable Cash $60,000 Accounts receivable Long-term debt Common stock Inventories Fixed assets Retained earnings $97,500 Total liabilities and equity Total assets $300,000 Sales Cost of goods sold

7-14 Complete the balance sheet and sales information in the table that follows for Isberg Industries using the following financial data: Debt ratio: 50% Balance Sheet Quick ratio: 0.80x Total assets turnover: 1.5 x Days sales outstanding: 36.0 days Gross profit margin on sales: (Sales Inventory turnover ratio: 5.0x - Cost of goods sold)/Sales = 25% %3D Balance Sheet Accounts payable Cash $60,000 Accounts receivable Long-term debt Common stock Inventories Fixed assets Retained earnings $97,500 Total liabilities and equity Total assets $300,000 Sales Cost of goods sold

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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