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Assume you are an analyst evaluating Mesco Company. The following data are available in your financial analysis (unless otherwise indicated, all data are as of December 31, Year 5):
Retained earnings, December 31, Year 4
$98,000
Days" sales in receivables
18 days
Gross profit margin ratio
25%
Shareholders" equity to total debt
4 to 1
Acid-test ratio
2.5 to 1
Sales (all on credit)
$920,000
Noncurrent assets
$280,000
Common stock: $15 par value; 10,000 shares issued
and outstanding; issued at $21 per share
Days" sales in inventory.
45 days
Required:
Using these data, construct the December 31, Year 5, balance sheet for your analysis. Operating expenses (excluding taxes and cost of goods sold for Year 5) are $180,000. The tax rate is 40%. Assume a 360-day year in ratio computations. No cash dividends are paid in either Year 4 or Year 5. Current assets consist of cash, accounts receivable, and inventories.
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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