Create the financial statements Other Expense - $13,800 Gross Margin - $2,255,70

Question

Create the financial statements Other Expense - $13,800 Gross Margin - $2,255,700 Fixed Asset Turnover Ratio - 4 times Basic Earning Power Ratio - 0 28 Federal Income Tax - $475,000 Inventory Turnover - 12.5 times Days Sales Outstaying - 45 Days Debt to Assets Ratio - 0.40 times Interest Earned Ratio -14 times Marketable securities - $348,760 Quick Ratio - 2.40 times Accounts Payable - $437,760 Retained Earnings - $2,688,000 Cash - $38,300 Other Long-Term Debt - $1,692,800 Cost of Sales -70% Debt to Equity - 2/3 CONDENSED BALANCE SHEET

Explanation / Answer

Total Current Assets = 387060

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