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Calculate the balance sheet for the end of the year

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Question - You are provided with the following information about the heartland hotel corporation. Calculate the balance sheet for the end of the year for this hotel. (Assume that average inventory is the same as end of year inventory) ("quick" assets only include cash and accounts receivable).

Current ration 1.2

Current liabilities 100000

Debt/equity ratio 2.0

Acid test ratio .8

Inventory turnover ratio (1) 4 times

Cost of goods sold 160000

Accounts receivable 40000

Net income 90000

Return on assets 10%

Reference no: EM132816202

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