&P17-4 (similar to) Question Help * Constructing a pro forma balance sheet) Use
ID: 2820564 • Letter: #
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&P17-4 (similar to) Question Help * Constructing a pro forma balance sheet) Use the following industry average ratios, B.to construct a pro forma balance sheet, The company's cost of goods sold is $ 2,674,000. (Round to the nearest dollar.) The company's total assets are $ 2,010,526. (Round to the nearest dollar.) The company's fixed assets are $ 779,592. (Round to the nearest dollar The company's accounts receivable is $ 98,378. (Round to the nearest dollar.) The company's inventories are $ 862,581. (Round to the nearest dolar.) The company's current liabilities are $ 492,374. (Round to the nearest dollar.) The company's total liabilities are $ 985,158. (Round to the nearest dollar.) Complete Mendoza Distributors' balance sheet below: (Round to the nearest dollar) Mendoza Distributors for Mendoza Distributors, Inc Data Table 1.9 times o Total asset turnover Average collection period (assume a 365-day year) Fixed asset turnover Inventory turnover (based on cost of goods sold) Current ratio Sales (all on credit) Cost of goods sold Debt ratio 94 days 4.9 times 3.1 times 2.5 times $3.82 milion 70% of sales 49% Print Done Enter any number in the edit fields and then click Check Answer. Clear All Check AnswerExplanation / Answer
asset turnover=sales/assets=1.9
assets=(3.82*10^6)/1.9=2010526
debt/equity=0.49
debt+equity=2010526
equity=2010526/1.49=1349346
Debt=2010526-1349346=661180
aveg coll=365*acc rec/sales
acc rec=(9.4*3.82*10^6)/365=98378
cogs=70%*3.82*10^6=2674000
inventory turnover=cogs/inventory
invnetory=2674000/3.1=862581
Fixed asset tunrover=sales/fixed assets=4.9
fixed assets=(3.82*10^6)/4.9=779592
Current assets=total assets-fixed assets
=2010526-779592=1230934
Cash=1230934-98378-862581=269975
Current liabiltes=current rassets/curremt ratio
=1230934/2.5=492374
long term debt=debt-current liab
=661180-492374=168806
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