Problem: Complete the balance sheet of Flying Roos Corporation.
Flying Roos Corporation
Balance Sheet as of December 31,2011
Assets: Liabilities and Equity:
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Cash and marketable securities
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$
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|
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Accounts payable and accruals
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$
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|
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Accounts receivable
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|
|
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Notes payable
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300,000
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Inventories
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|
|
|
|
|
|
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Total current assets
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$
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|
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Total current liabilities
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$
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|
|
|
|
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Long-term debt
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2,000,000
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Net plant and equipment
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|
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Common stock
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|
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|
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Retained earnings
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$
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1,250,000
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Total assets
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$
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8,000,000
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Total liabilities and equity
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$
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|
You have the following information:
Debt ratio = 40.00%
DSO = 39 days
Current ratio = 1.5
Inventory turnover ratio = 3.375
Sales = $2,250,000
Cost of goods sold=$1.6875