USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW TO ANSWER QUEST
ID: 2821625 • Letter: U
Question
USE THE FOLLOWING INFORMATION TO FILL IN THE BALANCE SHEET BELOW
TO ANSWER QUESTIONS 31 through 34
Number of shares outstandin Sales Gross profit margirn Inventory turnover ratio Notes payable Net profit margin Return on assets 15,000 $200,000 20% 4 $ 8,000 15% 8% Average collection period (days) Accounts payable days Retained earnings (2010) Dividend pavout ratio Accruals Current ratio Debt ratio 60 90 $23.700 80% $ 4,000 1.5 40% Note: Of total sales, 60 percent are on credit and the remainder are cash sales. Assume a 360-day year. All data in the table above, unless otherwise stated, is for the year 2015. Hodun, Inc. Balance Sheet for the Year Ending December 31,2015 Cash Accounts receivable Inventory Net fixed assets Notes payable Accounts payable Accruals Long-term debt Common stock ($2 par value) Capital surplus Retained earnings Total liab. & equity Total assets 31. Cash- 32. Long-term debt 33. Total assets- 34. Capital surplus -Explanation / Answer
31. Cash = $80,000
32. Long-Term Debt = $150,000
33. Total Assets = $375,000
34. Capital Surplus = $86,778
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