Solution-Using these data construct the december 31 year 5

Using these data construct the december 31 year 5 balance

Reference no: EM13480554

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.

Reference no: EM13480554

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Using these data construct the december 31 year 5 balance

Reference no: EM13480554

Reference no: EM13480554

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