Using your knowledge of statements and ratio analysis

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Reference no: EM131326868

The following information is available on the Vernier Corporation. A “?” denotes a missing item. Find the values of all missing items using your knowledge of the statements and ratio analysis. Balance Sheet as of December 2015 (in thousands): ASSETS Cash and Marketable Securities: 500 Accounts Receivable: ? Inventories: ? Current Assets ? Net Fixed Assets ? Total Assets ? LIABILITIES + OWNERS’ EQUITY Accounts Payable 400 Notes Payable ? Accrued Expenses 200 Current Liabilities ? Long-term debt 2,650 Common Stock 1,000 Retained Earnings 2,750 Total liability and equity ? Income Statement for 2015 (in thousands) Sales 8,800 COGS ? Selling, general and administrative expenses ? Interest Expenses 400 Profit before taxes ? Taxes ? Net Income ? Also known are certain other facts as follows. The company’s average tax rate is .34, current ratio is 3:1, net profit margin is 12%, debt-equity ratio is 1:1, receivable turnover in days is 45, and inventory turnover ratio is 3:1. Assume a 360-day year and that all sales are credit sales. (Extra-credit) If we did not know the company’s average tax rate, could we still solve the problem?

Reference no: EM131326868

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